CLLS concerned on ring-fencing: CLLS has published a letter setting out its concerns over how PRA intends to implement its proposals on ring-fencing. It notes several problems with the proposals, including noting some areas where it thinks exemptions from the general prohibitions could be needed. It cites as an example how ring-fenced banks may use captive insurance. It also says PRA should provide greater clarity on governance within groups including a ring-fenced body. (Source: CLLS Concerned on Ring-Fencing)