Banks fire warning shot over regulation

TOP bosses of UK banks have fired a warning shot over the country’s status as a competitive financial hub as the government's efforts to overhaul regulation risk missing the mark.

- SAMUEL NORMAN

Michael Roberts, the top boss of HSBC Bank and chief of corporate and institutional banking, told lawmakers yesterday the Treasury's deregulation work was a “step in the right direction” but urged “more needs to be done to... enable banks to play our full role in supporting the economy and growth agenda’.