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UK railways are essential infrastructure

Structural implications of the 
Vickers report

Assessing the impact of the Independent Commission on Banking's (ICB) recommendations on in-house functions

Early assessment of the government's formal response to the Vickers report will be key to banks' ability to fully identify and manage the costs of implementation and ensure the end enterprise is as commercially and financially attractive as possible.

Certain issues will be of particular importance to banks:

  • the location of permitted activities;
  • practicalities of reorganising the corporate structure;
  • UK tax code reform;
  • corporate governance requirements;
  • financial reporting requirements;
  • meeting regulatory monitoring requirements;
  • loss absorbency and
  • capital requirements.

In light of these issues, in-house Legal, Tax, Strategy, IT, HR, Rewards, Company Secretarial, Finance, Public Policy Units, Treasury and Compliance functions will all be affected.

BLP is closely analysing the Government’s response and is delivering a series of talks and publications to clients, designed to assist banks' in-house teams to fully assess and manage the structural impact of the ICB reforms.

Stay informed about the Vickers report

 

Get in touch

Matthew Kellett

Matthew Kellett

BLP
Partner, Head of Finance
Nathan Willmott

Nathan Willmott

BLP
Partner, Financial Services

Please get in touch if you would like to discuss how the Vickers report may impact your business.