Questions are being raised over whether the Independent Commission on Banking (ICB) looked closely enough at other banking models, such as the Glass-Steagall model of complete separation between investment and retail banks, before deciding on the ring-fencing model in its final report on financial stability in the UK.

In an exclusive video interview with Operational Risk & Regulation magazine, the executive director of the British Bankers' Association (BBA), Paul Chisnall, gives one of the BBA's