Banking Reform

August Legal News Review

Milly (Millicent) Bygrave | Posted 10.10.2014 | UK Universities & Education
Milly (Millicent) Bygrave

With the UK economy said to be recovering for the first time in six years, any moves to restructure and guide the UK banking sector towards risk prevention is a positive contribution toward strengthening the economy.

Is Ethical Banking an Oxymoron?

Ian Middleton | Posted 30.04.2014 | UK
Ian Middleton

On the day that Royal Bank of Scotland announced a bonus payout to it's staff of £588million in spite of an operating loss of £8.24billion, one had to wonder if any lessons were really learnt from the mess that was left after the banking crash only a few years ago...

Banking Reform - Don't Hold Your Breath

Pippa Bartolotti | Posted 26.01.2014 | UK Politics
Pippa Bartolotti

Banking practices have gone from shoddy to downright cruel. There is no compensation which can bring back the living thing which is a business. Nothing can take away the agony and the pain of knowing just how badly you have been treated, just how wrongly you have been judged.

Account Switching - What Took So Long?

Tony Virdi | Posted 23.01.2014 | UK Tech
Tony Virdi

The Current Account Switch Service was introduced with a minimum of fuss and, in the face of continuing revelations about rate-rigging, mis-selling, rogue-traders and the rest, it will help the industry rebuild consumer trust.

What Punishment Will Reckless Bankers Get?

The Huffington Post UK | Asa Bennett | Posted 02.10.2013 | UK Politics

Senior bankers could get up to seven years in jail and an unlimited fine if convicted of the new offence of "reckless misconduct", the Treasury has an...

Fixing the Banking System Means Putting Party Politics to One Side

Syed Kamall | Posted 09.11.2013 | UK Politics
Syed Kamall

You can be sure that most of my colleagues in the European Parliament do not embrace the concept of the free market. Day after day, I hear them speaking up for state intervention or attempting to regulate away risk. However, there is one area where there is a genuine coalition of interests and that is the need for banking reform.

Female Quotas Are Nasty But Necessary

Victoria Sadler | Posted 18.10.2013 | UK Lifestyle
Victoria Sadler

We all know business and politics are dominated by men. In a rather pathetic indictment of the situation, there are more Eton graduates than women in the Cabinet. But why are we resorting to quotas to address the problem? What happened to skills and talent?

Consumer Empowerment Through Competition Will Help Restore Trust in Banking

Matthew Fell | Posted 15.09.2013 | UK
Matthew Fell

People are angry with banks - they have every right to be after all the scandals that have engulfed the sector. Our small and medium-sized members often feel that the bank will do what is best for itself, rather than the customer. But a thriving economy is dependent on a healthy banking system and banking won't be healthy without trust.

Osborne's Banking Reforms 'Unconvincing', Commission Says

The Huffington Post UK/PA | Charlie Thomas | Posted 11.03.2013 | UK

Britain's banks and the Chancellor came under fire from the Parliamentary Commission on Banking Standards on Monday after the government was criticise...

Capping Banker Bonuses Misses the Point

Cyrus Moore | Posted 05.05.2013 | UK Politics
Cyrus Moore

Brussels is wrong to cap bankers' bonuses, just as it was wrong to propose a financial transactions tax a few months ago. Its thinking, however, is along the right lines; having failed to manage their businesses responsibly, bankers need to be kept on a tight leash.

The Debate That Still Needs to Be Had

John McFall | Posted 14.04.2013 | UK Politics
John McFall

It is now six months since the LIBOR scandal erupted - and we are still trying to assess how much damage that and other scandals have done to public trust in the banks.

Does This Mark the End of 'Bash a Banker'?

Angus Campbell | Posted 12.04.2013 | UK
Angus Campbell

Whilst the government must be careful not to meddle too much in the way banks are run, the sword of Damocles is arguably warranted to change the way they behave, so that they never repeat the errors made in the early noughties that led to the bubble bursting so spectacularly.

Banking - and Life - Without an Electrified Ring Fence

Mike Beeson | Posted 07.04.2013 | UK Lifestyle
Mike Beeson

There can be no denying, for instance, that many thousands of ordinary UK citizens had their noses well and truly in the trough of 'easy credit' for much of the noughties.

'Ring-Fence Risky Operations Or Face Separation'

PA | Posted 04.02.2013 | UK Politics

Britain's biggest banks will face complete separation if they flout new rules to ring-fence risky operations from savers' deposits, the Chancellor ann...

It's a Complete Myth That Banking is Free

Peter Vicary-Smith | Posted 15.10.2012 | UK
Peter Vicary-Smith

The time for action is now. There must be significant changes to the structure and culture of the banking industry. Only then can we start the long road to restoring public confidence and properly protect consumers from a repeat of the financial crisis.

Honour Amongst Bankers

Cyrus Moore | Posted 10.09.2012 | UK Politics
Cyrus Moore

Appointing a trader to run Barclays, one of Britain's finest retail banking names, was a big mistake

Chancellor Must Stand Firm on Banking Reform Amid Intense Bank Lobbying

Richard Lloyd | Posted 07.08.2012 | UK Politics
Richard Lloyd

We've recently seen a series of u-turns from the chancellor on Budget measures including the controversial pasty, caravan and charities taxes. George Osborne says he is now focused on the biggest things that matter to the economy. Ahead of his annual Mansion House speech and the expected publication of the White Paper on the Banking Reform Bill on 14 June, we are calling on the government to stand firm on its banking reform commitments. Consumers should never again have to foot the bill for a banking collapse that required a bailout to the tune of £2000 for every man, woman and child. Without strong action that shakes up the culture of British banking, we will all continue to pay the price.

Banks 'Paid Out £160m In Compensations After Regulator Crackdown'

PA | Posted 03.01.2012 | UK

Banks paid more than £160m in compensation to customers last year after a crackdown by the financial regulator. Barclays was the worst offender in...

Wrong lessons are learned from the UBS losses at Delta One trading: ring-fencing is not the answer

Ismail Erturk | Posted 03.12.2011 | UK
Ismail Erturk

The supporters of the UK Independent Commission on Banking's report saw the $2 bn. losses last week at UBS from the allegedly fraudulent behaviour of ...

HSBC 'Should Move UK Arm To Paris', Says Former City Minister

PA | Posted 02.12.2011 | UK

PRESS ASSOCIATION -- Former City minister Lord Myners has suggested that HSBC should move its UK retail arm to Paris to avoid the proposed banking ref...

ICB Vickers Report Banking Reform or Submission To Banks

Simon Dixon | Posted 13.11.2011 | UK Politics
Simon Dixon

It is clear to me from the final report that it is really a game of trying to please banks and submit to their threats of crashing the UK economy and trying to please the public by showing some kind of action.

Vickers Report: The UK's Banks are Committed to Meeting its Challenges

Angela Knight | Posted 12.11.2011 | UK Politics
Angela Knight

One of the things Sir John Vickers got absolutely right in his report on the banking industry - issued yesterday - was the scale of the regulatory reform that was already under way.

Banking Reforms 'To Be Delayed'

PA | Posted 11.11.2011 | UK Politics

Controversial proposals to split the high street and investment arms of Britain's banks may not be implemented for at least three years and possibly u...

Guardian: Barclays Boss Makes Last-Ditch Plea To Halt Bank Reform | Posted 01.11.2011 | UK Politics

Bob Diamond, chief executive of Barclays, is to hold talks with chancellor George Osborne on Friday as bankers mount a last-ditch effort to delay impl...

Government Would Be 'Barking Mad' To Reform Banks

PA | Posted 30.10.2011 | UK Politics

PRESS ASSOCIATION -- Darkening clouds over the UK economy mean the Government would be "barking mad" to press ahead with proposals to reform the banki...