Compliance with UK Ring-Fencing Rules
Ring-fencing rules were introduced to protect retail clients from unrelated risks and shocks in banks affecting the wider financial system. This legislation requires each large UK bank to separate its retail banking activity from the rest of its business by January 2019. As the go-live date approaches, banks are working towards the transfer of large parts of their business to the new legal entities and the possession of the necessary authorisations.
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Posted on 04-10-2017