Why British banks are facing yet another conduct investigation indy100 indy100 Indy100 logoNewsletter sign upRegister/Sign inTop 100NewsViralPoliticsCelebritiesScience & TechVideoWishlistWishlistBooksFashion & BeautyFood & DrinkHome & GardenKidsSports & FitnessTechTravel & OutdoorsMoreScience & techVideoConversationsSportIdentitiesLifestyleShowbizTVSearchxNews

Why British banks are facing yet another conduct investigation

James MooreFeb 20, 2015 Why is the Financial Conduct Authority initiating another banking review? The watchdog is concerned about the way investment banks bundle various services together and then sell them to corporate clients. It fears that new boys, who lack the clout to offer advice, share under-writing, derivatives and the rest, all at the same time, could be being disadvantaged by those that can. So what can it do about this? Fine those that it decides haven’t been playing fair, for starters. But more seriously, it can also refer the sector to the Competition & Markets Authority (CMA) which in turn can order firms to sell off bits and pieces of their businesses if it agrees that the banks are being anti-competitive. So this could lead to a break-up? It’s very early days to be talking about that. But the banking industry has just been handed another very big headache. Presumably banks aren’t best pleased about this? Furious doesn’t begin to describe it. This has come as a bolt out of the blue and, as you might expect, there are already warnings being made about the potential impact on the City. They also argue that investment banks are ferociously competitive so the whole thing is unnecessary. Do they have a point? Potentially. There is an awful lot going on in banking regulation at the moment. And there is only so much even a big, wealthy bank can deal with. On the other hand, you might very well think that they are only reaping what they have sown. More: An unfortunate misspelling at Tory won't have pleased one donorKeep reading...Show less

Lionesses among those to be honoured at Pride of Britain Awards

A posed smile can improve your mood new research suggests

Owen Jones delivers powerful speech on trans rights at awards ceremony

Please log in or register to upvote this article

Top 100

Liz Truss has resigned as prime minister - the best memes and reactions

liz trussprime ministerresignedmemesjokesliz truss12h

The Daily Star' s lettuce officially outlasted Liz Truss

liz trussresignationlettucedaily starliz truss12h

Liz Truss' s time as PM summed up with Taylor Swift song titles

liz trusstaylor swiftprime ministerliz truss10h

Man endures ' 29 hour flight' with screaming kids for the entire trip

flightplanechildflightOct 12, 2022

Lorraine Kelly hits out at Madonna' s ' boiled egg' face

madonnamadonnalorraine kellygmbshowbizplastic surgeryOct 11, 2022

Elon Musk is actually selling a ' Burnt Hair' fragrance

elon muskthe boring companyperfumeelon muskburnt hairOct 12, 2022

Jon Stewart slams Arkansas attorney general for her ' anti-trans law'

lgbt+transgenderlgbt+jon stewartapple tvarkansasus newsnewsOct 11, 2022

Couple spark debate for ' scandalous' wedding cake topper

wedding caketiktokwedding cakeviralOct 12, 2022

Love Island star shows extent of how far influencers edit photos

Love IslandOct 11, 2022

Steven Seagal describes Putin as one of ' greatest world leaders'

steven seagalOct 10, 2022

Lizzo wears empowering shirt after being fat-shamed by Kanye West

lizzoOct 10, 2022

14 of the worst things the Tories did this week

liz trussOct 08, 2022

A lettuce just outlasted Liz Truss' stint as prime minister

Liz Truss12h

Newsnight guest says ' you can' t treat mortgages like prime ministers'

Liz Truss16hThe Conversation (0)