HSBC Urges Government To Delay Bank Ring-fencing: Sky News
Sky quoted sources familiar with the letter’s content as saying, HSBC Chairman Douglas Flint has written a letter to UK Chancellor George Osborne and Bank of England Governor Mark Carney, requesting a delay to the 2019 timetable for banks to ring-fence their business. UK lawmakers in December gave their final approval to reforms aimed at tackling structural failings at banks, that came to light following the 2007/8 financial crisis and a series of mis-selling and rate-fixing scandals.
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