The Turner review - Recommendations to reform the banking industry

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Overview
PwC LLP welcomes many parts of the Turner Review. It is encouraging that Lord Turner appears determined to restore confidence in London as the leading global centre for financial services - a reputation built on financial stability and a sound regulatory regime. In many respects Lord Turner reaches similar conclusions to the recent report delivered by Jacques de Larosiere on reforming financial supervision across the EU level and on the wider international stage. It is important that the UK is taking a lead ahead of the G20 Summit.

More effective governance, oversight and control
Capital Adequacy regime
The need for a new international focus