The CBI has submitted a response to the HM Treasury consultation on Banking reform: draft secondary legislation.
The proposals set out the details of the ‘location’ of the ring-fence that is being created following the Vickers proposals and cover the scope of the ring-fence, the de minimis exemption from ring-fencing, the prohibitions on ring-fenced banks, and the precise conditions for exemptions.
The ACT is a member of the CBI and has contributed to their response and is supportive of the position taken.
