Sir Peter raises bank regulations in the House of Commons

Sir Peter

Sir Peter

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Sir Peter Tapsell has raised the issue of banking regulations in the House of Commons.

The Louth and Horncastle MP asked: “What view should be taken of banks with a record of misbehaviour that are now promising their shareholders that they are considering moving their domicile away from Britain because they fear that the regulatory proposals by Vickers will limit their freedom to misbehave in the future?”

Sajid Javid, Financial Secretary to the Treasury, replied: “The action we have taken on the back of the report issued by the Independent Commission on Banking is the right one, and I think it will be very hard indeed for the banks to try to avoid the new regulations and the new structure of banking that we are bringing in.”