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Source: UK Government

The ring-fencing regime is a key domestic regulatory reform, introduced in the aftermath of the 2008 financial crisis, following recommendations from the Independent Commission on Banking in 2011, to strengthen the resilience of the UK banking sector. The regime, which came into force in January 2019, separates core retail banking services from investment banking activities, particularly to protect depositors from risks arising elsewhere in the banks and in the financial system.
The Financial Services (Banking Reform) Act (FSBRA) 2013 requires the Treasury to appoint an independent panel to review the operation of the legislation relating to ring-fencing.
FSBRA also requires the Treasury to appoint an independent panel to review banks’ proprietary trading activities. Proprietary trading involves activity where a bank trades in financial instruments or commodities as principal, requiring the use of the bank’s own capital and/ or liquidity resources.
The independent review panel is required to submit its reports to the Treasury, including any recommendations.
The Treasury will announce the appointments of the remaining members of the panel and publish the terms of reference for the reviews in due course.

MIL OSI United Kingdom