Britain should force all banks to split routine retail operations from riskier investment activities if a single lender abuses new rules designed to protect taxpayers, an influential parliamentary panel said.The UK's Parliamentary Commission on Banking Standards, which has been asked to find ways to reform banks, also said on Monday that Britain's financial regulator should be given the responsibility to decide how far banks can leverage their capital for investment and lending. The government's Banking Reform Bill is due to be debated in parliament on Monday. But Conservative MP Andrew Tyrie, who heads the commission, said that current proposals to change the industry fall short of what is required."There remains much more work to be done to improve the Bill," he said in a report published ahead of the debate.

Source - http://www.business-standard.com