UK ring fence poses legislative challenges

Commission chairman Sir John Vickers

The Independent Commission on Banking (ICB) has in its final report cemented its proposal to ring fence the retail arms of UK banks from their investment operations.

Unveiling the report, commission chairman John Vickers said the ring fence would be "hard, but flexible," allowing banks some say in how exactly it is placed in their individual organisation.

This will come as a relief to those who feared the commission would call for a total separation of the segments of a firm's business. But

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