MPs call for UK PRA to ‘bear down’ on prop trading

15 Mar 2013

The UK Banking Standards Commission has called on the country’s new Prudential Regulation Authority to crack down on bank prop trading but stopped short of recommending a ban.

The commission — set up to make recommendations for the improvement of the UK financial sector in the wake of the Libor scandal — said the US experience of implementing the Volcker rule had proved defining and prohibiting proprietary trading was challenging.

“Therefore, the Banking Commission does not feel ...

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