text_body: --- DIVISION TITLE ---
  
  Financial Services (Banking Reform) Bill - Clause 4 - Full Separation of Ring-Fenced Retail Banking Activities
  
  --- MOTION EFFECT ---
  
  The majority of MPs voted against requiring retail banking divisions to be completely separated from other bodies, such as investment banks, within five years.  
  
  MPS were considering the Financial Services (Banking Reform) Bill[1]. The amendment rejected in this vote was Amendment 18. Clause 4 of the Bill sought to introduce new clauses to [http://www.legislation.gov.uk/ukpga/2000/8/contents to the Financial Services and Markets Act 2000]; the rejected amendment sought to add an additional new clause titled ''Full separation'' introducing a ''General requirement of separation'' relating to  retail banking elements of a banking group which have been "ring-fenced" in order to isolate banking activities where continuous provision of service is vital to the economy and to the customers of a bank[3].
  
  The proposed requirement to separate stated:
  
  :Where the members of any group include one or more ring-fenced bodies and one or more other bodies, the members of the group must, before the end of the period of five years beginning with the relevant commencement date, take steps to secure that there are no members of the group that are ring-fenced bodies
  
  The rejected proposed new clause provided for enforcement of the requirement via the removal of regulatory permission to carry on activities for those groups not complying. 
  
  
  
  * [1] [http://services.parliament.uk/bills/2013-14/financialservicesbankingreform.html Parliament's webpage on the Financial Services (Banking Reform) Bill]
  * [2] [http://www.publications.parliament.uk/pa/bills/cbill/2013-2014/0002/cbill_2013-20140002_en_2.htm#pb1-l1g4 Clause 4 of the Financial Services (Banking Reform) Bill]
  * [3] [http://www.publications.parliament.uk/pa/bills/cbill/2013-2014/0002/en/14002en.htm Explanatory notes to the Financial Services (Banking Reform) Bill]
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  