Banking Bill gets go ahead

 
Tim Wallace
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A RAFT of new banking rules got the green light in the House of Lords last night.

The rules introduce a licensing regime for senior bankers and erected a ringfence between banks’ retail and investment arms.

But lawyers said much detail still needs to be worked out.

“It remains to be seen whether this will lead to increased financial stability or whether the onerous requirements will damage the competitiveness of the sector,” said Alexandria Carr from Mayer Brown.