Ex JPMorgan chief backs UK banking regulations
Bill Winters, former co-chief executive officer of JPMorgan Investment Bank, emphatically supported the ring-fencing of UK banks activities yesterday in the latest Parliamentary Commission on Banking Standards session.
Winters said the "various pieces of legislation" aimed at toughening regulatory measures in the UK would not threaten the country's position as a leading global financial centre.
For "purely offshore players" the regulations will have absolutely no effect, Winters said, as only
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