UK lawmakers call on regulator to focus on prop trading

03/15/2013 | Reuters · Wall Street Journal, The

Britain's Parliamentary Commission on Banking Standards is encouraging the Prudential Regulation Authority to discourage -- but not ban -- proprietary trading at deposit-taking banks. "The immediate risk to UK banking standards from proprietary trading may be limited," commission Chairman Andrew Tyrie said. "However, effective regulatory oversight will be particularly important for the future. At a time when banks are under less intense scrutiny, proprietary trading could re-emerge as a greater risk."

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