UK's authorities push for rigorous reform

REGULATORY UPDATE

LONDON - On the same day Lehman Brothers filed for bankruptcy protection in the US, the UK Treasury Committee released its banking reform report. The document sets out proposals in the light of the recent consultation papers (CPs) on financial stability issued by the the UK Financial Services Authority (FSA), the Bank of England and the Treasury, which will be solidified in law once the Banking Reform Bill is passed. The report calls for a reform of the Financial Services Compensation Scheme