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Monday, March 11, 2013

U.K. parliamentary panel advocates collective punishment for banks.

 Britain's Parliamentary Commission on Banking Standards has said that the government should consider breaking up all banks into retail and investment-bank activities if just one of them breaches new ring-fencing rules designed to avoid another bailout. The Commission made its call ahead of a parliamentary debate today on the government's Banking Reform Bill, which is weaker than the panel would like it to be.

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