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Bank charges: Commission does not stop risky trading

The Parliamentary Commission on Banking Standards has decided not to ban banks from trading using their own money.

A spokesperson said on Friday that it would be too difficult to enforce a ban on proprietary trading. This is because the UK’s financial regulators are already focused on ensuring that banks are separating their retail and investment operations.

However, this means that banks will still be able to set up risky trade deals using their own money.

In the US, banks have already been banned from trading with their own money under what is called the Volcker rule. This rule has been suggested to the UK’s banking commission but has not received enough support to be pushed through.

The Banking Commission has been working to improve regulations in the financial sector in order to avert future problems such as another financial crisis or further scandals.

It is putting the rule to ring fence their retail operations in order to stop banks from needing to be bailed out if their investments fall through.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801557082-ADNFCR



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