20th April, 2021

Launch of call for evidence for review into ring-fencing and proprietary trading

The Ring-fencing and Proprietary Trading Independent Review has today launched a call for evidence. The Review Panel has been tasked by the Treasury to undertake reviews into the operation of the legislation relating to ring-fencing, and separately banks’ proprietary trading activities.

The Call for Evidence paper sets out a series of questions for areas in which the Review Panel is keen to build on the existing evidence base. This first phase of the review has culminated in the launch of this call for evidence. The responses and evidence that the Review Panel receive will further contribute to the analysis and inform any recommendations that the Review Panel makes in the future. The Review Panel hopes to gather evidence from a broad set of stakeholders to ensure that as many voices are heard as possible.

Over the last decade, UK banks have seen significant changes to the environment in which they operate, including the fallout from the Covid-19 pandemic, the UK’s exit from the EU, and wider changes in the UK financial sector.

This review presents a unique opportunity to assess the observed impacts of the regulatory regimes, intended or otherwise, for financial stability, competition, competitiveness, and the balance between these in light of the changes in the UK financial sector and wider economy.

Review Panel Chair Keith Skeoch said:

“The Review Panel and I look forward to engaging with as wide a range of interested parties as possible on this fascinating and crucially important issue in the months to come. I sincerely thank you in advance for the valuable contributions that I hope you will make to this review”.

Notes to Editors

  1. The Call for Evidence paper is available on the RFPT website at: https://rfpt-dev.netlify.app

  2. Responses to the call for evidence should be sent by email to feedback@rfptreview.org.uk.

  3. The closing date for responses is 13 June 2021.

  4. The members of the RFPT Independent Review Panel are Keith Skeoch (Chair), John Flint, Patrick Honohan, Betsy Nelson, Preben 5. Prebensen, and Linda Yueh.

  5. More details about the RFPT Independent Review and its members, including the Terms of Reference, are available at: https://rfpt-dev.netlify.app.

  6. Press enquiries should be directed to enquiries@rfptreview.org.uk.

  7. Further updates will be available on the RFPT Review twitter account and the RFPT Review Linkedin account at:
    twitter.com/RFPTReview
    linkedin.com/company/rfpt-review.

  8. In line with other independent inquiries and reviews, please note that the RFPT Independent Review is not subject to the Freedom of Information Act 2000.