The Financial Services (Banking Reform) Act 2013 includes the government’s reform of the banking industry regarding ‘ring-fencing’ and the ‘electrification’ of the ring-fence. The ring-fencing provisions in the Act are based on Sir John Vickers’ Report and the recommendations from the Parliamentary Commission on Banking Standards (PCBS). The PCBS argument was that the envisaged ‘ring-fence’ regulation in the Bill, based on Sir John Vickers’ report, fell short of expectations, and would be easily breached by unscrupulous bankers; therefore it recommended that to strengthen it further, the ring-fence should be fortified with more punitive regulatory measures, dubbed as ‘electrifying the ring-fence’. This ‘electrification’ seems to be an innovative idea to solve the problems envisaged; however, it is argued that this idea is not without theoretical problems of its own. Also, it is suggested that to solve behavioural and structural problems within banking institutions, the Act could have benefited from a regulatory regime based on the concept of ‘whistle-blowers’ and economic incentives, also found in section 922 of the Dodd-Frank Wall Street Reform and the Consumer Protection Act (Dodd-Frank Act).

中文翻译：

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2013 年金融服务（银行改革）法案：智能监管制度？

2013 年《金融服务（银行改革）法》包括政府对银行业关于“围栏”和“围栏电气化”的改革。该法案中的围栏条款基于约翰·维克斯爵士的报告和议会银行标准委员会 (PCBS) 的建议。PCBS 的论点是，根据约翰·维克斯爵士 (Sir John Vickers) 的报告，该法案中设想的“围栏”规定没有达到预期，很容易被不道德的银行家破坏；因此，它建议为了进一步加强它，应该通过更具惩罚性的监管措施来强化环栅，被称为“电气化环栅”。这种“电气化”似乎是解决所设想问题的创新理念；然而，有人认为，这种想法并非没有其自身的理论问题。此外，有人建议，为了解决银行机构内部的行为和结构问题，该法案本可以受益于基于“告密者”概念和经济激励措施的监管制度，也可以在多德-弗兰克墙第 922 节中找到街道改革和消费者保护法（多德-弗兰克法案）。