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Legal Briefing
Banking on change: the Government's response to the Vickers Report
Practice Area: Regulation and Compliance
Sector: Commercial and Retail Banking
Jurisdiction: England & Wales
Published: 27 January 2012
Law Firm: Simmons & Simmons
Overview
The Independent Commission on Banking published its final recommendations on the reform of the UK banking system in September last year. The Government issued its formal response shortly before Christmas, which begins: "This Government is proposing the most far-reaching reform of British banking in our modern history".
The recommendations of the ICB, and the manner in which they will be implemented, raise important commercial issues for the affected UK banks, as well as legal issues for their advisers. Writing exclusively for Legal Week, Simmons' James Bresslaw considers a number of these issues and focuses on what lies ahead in 2012 in terms of implementation.
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