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LATEST NEWS & EVENTS ICB banking reforms: banks set to be given until 2019 to prepare  There will be plenty of time for banking and financial solicitor services to respond to UK banking reforms, which have not been recommended to come into force until 2019 by Sir John Vickers. The author of the Independent Commission on Banking (ICB) final report, which was published today, defended the delay, saying that addressing issues with the banking industry requires a long-term response. Under the recommendations, banks will be forced to ringfence high street retail banking and investment to protect consumers from future global financial crises. Proposals have already been welcomed by the chancellor George Osborne, although there has been an outcry over the delay. Business secretary Vince Cable had pushed for legislative action to be immediate, while Mr Osborne was keen to delay in order to give the banking industry enough time to prepare for any changes. The report also focuses on improving competition and transparency, in addition to protecting savers and borrowers. Posted by Alex McLean 
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