finance (67) - Lloyds(now Barclays Royal Bank of Scotland HSBC and Lloyds Note that although there is no equivalent to the GlassSteagall Act and

finance (67) - Lloyds(now Barclays Royal Bank of Scotland...

This preview shows page 1 out of 1 page.

Lloyds (now Barclays, Royal Bank of Scotland, HSBC and Lloyds). Note that although there is no equivalent to the GlassSteagall Act and universal banking is allowed, commercial and investment banking (merchant banking or securities firms in UK terminology) were, until recently, traditionally separate because of restrictive practices. However, in 1986, the ‘Big Bang’ brought important structural changes in the London Stock Exchange, and as a consequence all the securities firms became part of integrated financial institutions. • The

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture