Monday, 24 June 2013

UK: FRC publishes statement in response to the final report of the Parliamentary Banking Standards Commission

The Financial Reporting Council has issued a statement in response to the final report published last week by the Parliamentary Commission on Banking Standards: see here. The FRC states, amongst other things, that it is not convinced by the proposal to remove shareholder primacy in respect of banks, stating that this may affect their ability to attract capital.

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