The U.K. government’s proposed legislation to force banks to segregate their retail businesses from riskier investment banking activities will not be sufficient to stop market abuses, such as the Libor scandal that last week saw Barclays PLC (BARC.LN) pay 290 million pounds ($451 million) after it emerged that some of its staff manipulated the key rate, the chairman of the Financial Services Authority said Sunday.
Excerpt from: FSA Says Ring Fencing Banks Won’t Stop Market Abuses
