The Lord Mayor of the City of London, Nicholas Lyons, is a big lobbyist in favor of undoing the ring-fencing. I'm confident he'll try to get it done by the currently very friendly government of Sunak while he's in the yearly office -- he has till next November.
The relaxation for banks under a certain amount of AuM is already in the pipe -- see Lyons' recent interview with Bloomberg. I'm expecting him to push for a larger increase of the ceiling amount this year, and get it. That's why I said "further undo."
Maybe the ring-fencing will be fully removed but that won't happen this year.
The relaxation for banks under a certain amount of AuM is already in the pipe -- see Lyons' recent interview with Bloomberg. I'm expecting him to push for a larger increase of the ceiling amount this year, and get it. That's why I said "further undo."
Maybe the ring-fencing will be fully removed but that won't happen this year.