Regulations being proposed by the Independent Commission on Banking to separate the retail and...

|By:, SA News Editor

Regulations being proposed by the Independent Commission on Banking to separate the retail and investment banking arms of British banks could cost Barclays (BCS -1.6%) up to £2B a year, says CEO Bob Diamond. Speaking to U.K. lawmakers, Diamond said that the impact of the new regulations would primarily be felt on the investment banking side, but would ultimately be negative not just for the banking sector, but for the economy as a whole.