LONDON (Alliance News) - HSBC Holdings PLC is urging the UK government to delay a deadline for ringfencing the lenders' retail and investment banking operations, Sky News reported on Sunday.
According to the article, HSBC Chairman Douglas Flint has written to Chancellor George Osborne and Bank of England Governor Mark Carney to warn about potential implications of a competition probe into the banking sector which the UK's Competition and Markets Authority wants to pursue.
Citing Whitehall sources, the report said that Flint has used the letter to ask for a delay to the 2019 timetable for bank ring-fencing.
http://news.sky.com/story/1312337/hsbc-urges-ring-fencing-delay-amid-cma-probe
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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HSBC Holdings (HSBA)