Long overdue

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As regulators and institutions across the globe have come under scrutiny for failing to prevent the financial crisis, the Basel Committee on Banking Supervision has been busy formulating new guidance around the structures at the centre of the storm.

While irate US congressmen interrogated bankers over whether funds received under the Troubled Assets Relief Program (Tarp) have been spent on staff bonuses and the UK Treasury Select Committee demanded public displays of contrition from former bank

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