Osborne aims to give UK regulators powers to break up banks

UK Chancellor George Osborne says the Financial Services (Banking Reform) Bill includes powers for regulators to break up banks. Financial institutions that fail to comply with ring-fencing rules would face the threat of being split up. "My message to the banks is clear: If a bank flouts the rules, the regulator and the Treasury will have the power to break it up altogether -- full separation, not just a ring fence," Osborne said.

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