UK: Government publishes draft of the Financial Services (Banking Reform) Bill

Last Friday the Government published a draft of the Financial Services (Banking Reform) Bill: see here (pdf). The purpose of the Bill, amongst other things, is to establish the framework for the ring-fencing of activities within banking groups. The Bill will be subjected to pre-legislative scrutiny by the Parliamentary Commission on Banking Standards, chaired by Andrew Tyrie and scheduled to report by 18 December.