Treasury and the Department for Business, Innovation and Skills (BIS) have published a White Paper setting out the Government’s plans for implementation of the Independent Commission on Banking's (ICB) recommendations.
For a detailed description of the new ring-fencing proposals please see our separate alert. (See:UK Treasury Publishes Banking Structure Reform)
The White Paper is open for comment until 6 September. The Government plans draft legislation in the autumn and still intends to put all relevant legislation in place by the end of the current Parliament in 2015. (Source: Mark Hoban Statement on Banking Reform, Treasury White Paper on Banking Reform andGeorge Osborne Mansion House Speech June 2012)