Europe: structural reform of the banking sector - Commission publishes summary of consultation responses

The European Commission has published a summary of the responses received in respect of its consultation on the recommendations of the High-level Expert Group on reforming the structure of the EU banking sector: see here (pdf). The Commission notes that banks in general welcomed the Group's analysis but they did not accept that a compelling case had been made for the mandatory separation of proprietary trading from other banking activities. Many respondents did not comment on the Group's corporate governance recommendations, although the importance of good governance was recognised.