MPs press new regulator for prop trading clarity
The UK’s Banking Standards Commission has written to the head of the new Prudential Regulation Authority (PRA) to ask how the regulator intends to "bear down" on prop trading by UK banks, as the Commission recommended last month.
The PRA opened its doors this week, taking over banking supervision from the Financial Services Authority.
The panel of MPs set up to make recommendations for the improvement of the UK financial sector in the wake of the Libor scandal on March 15 stopped short of recommending
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