On April 16, the Financial Services (Banking Reform) Bill 2012-13 completed its committee stage in the House of Commons. A revised version of the Bill, as amended in the committee stage, has been published.
The main aim of the Bill is to give HM Treasury and the relevant regulators powers to implement the recommendations of the Independent Commission on Banking (ICB) on ring-fencing requirements for the banking sector. The Bill is intended to make the banking sector safer, more resilient and more resolvable. The Bill will now pass to the report stage in the House of Commons. Banking Reform Bill.