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

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.

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”.