InVest — February 2014: banking
The European Commission published its plans for structural reform of the banking sector on 29 January 2014.
The proposal outlines measures on the structure of the EU banking sector, which aim to: ensure that banks do not remain or become too big, too complex or too interconnected to fail; reduce excessive intra-group complexity and conflicts of interest, thus facilitating the management, regulation, supervision and resolution of banks; guarantee that the banks can be resolvable and do not require taxpayer bailout when facing difficulties; and ensure that banks will no longer be allowed to use public safety nets to artificially expand in risky activities that are not linked to core banking activities…
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The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.