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LATEST NEWS & EVENTS OneSavings bank set to be established  OneSavings is set to be the new bank formed after Kent Reliance building society is restructured by private equity business JC Flowers. The new bank could launch in February 2011, with Kent Reliance building society commanding 60 per cent ownership of the business. However, this depends on the results of the voting papers which are scheduled to be distributed to the society's borrowers and savers later this month. Consent is required from 75 per cent of voters and the results will be confirmed on November 19th. This news comes after an EU agreement on financial supervision reform was announced last month, which could prompt financial organisations to seek insolvency and restructuring advice to ensure compliance. The new agreement will ensure that national supervisors will be accountable for monitoring day-to-day operations within banks. Although, the European Systemic Risk Board will interfere if systemic risks to economies are noticed such as during disputes, emergencies or when EU regulations are breached. The new regulations will be enforced on November 1st. Posted by Gaby Hamerton 
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