text_body: --- DIVISION TITLE ---
  
  Financial Services (Banking Reform) Bill - New Clause 4 - Duty of Care for Ring-Fenced Retail Banking Divisions
  
  --- MOTION EFFECT ---
  
  @ MP voted aye to give ring-fenced retail banking elements of banking groups a duty of care towards their customers.
  @ MP voted no against giving ring-fenced retail banking elements of banking groups a duty of care towards their customers.
  
  The majority of MPs voted against giving ring-fenced retail banking elements of banking groups [http://en.wikipedia.org/wiki/Fiduciary fiduciary duty] towards its customers in the operation of core services and a duty of care towards it customers across the financial services sector.
  
  
  MPs were considering the Financial Services (Banking Reform) Bill[1]. The proposed new clause which was rejected in this vote was titled ''Duty of Care'' and stated:
  
  :âAt all times when carrying out core activities a ring-fenced body shallâ
  
  :(a) be subject to a fiduciary duty towards its customers in the operation of core services; and
  
  :(b) be subject to a duty of care towards it customers across the financial services sector.â.
  
  This relates to the duties of 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[2].
  
  
  * [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/en/14002en.htm Explanatory notes to the Financial Services (Banking Reform) Bill]
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  