The Independent Commission on Banking was a United Kingdom government inquiry looking at structural and related non-structural reforms to the UK banking sector to promote financial stability and competition in the wake of the financial crisis of 2007–08.
The commissioners were supported by a Secretariat of fourteen officials seconded from HM Treasury, the Department for Business, Innovation and Skills, the Financial Services Authority, the Bank of England and the Office of Fair Trading.
[3] The government announced the same day that it would introduce legislation into Parliament aimed at implementing the recommendations.
Mainland European scholars had recommended the adoption of similar 'ring-fencing' regulations, notably in France where SFAF and World Pensions Council (WPC) banking experts argued that such rules should be adopted in European Union law.
[4][5] - and the Liikanen report in October 2012[6] on Bank Structural Reform had as its key recommendation a “ringfence” separating trading from deposits.