U.K. warns banks of reform backsliding

Feb 04, 2013, 7:30 AM EST
Britain's Chancellor of the Exchequer George Osborne speaks in Bournemouth, southern England February 4, 2013.
REUTERS/Stefan Wermuth

Britain's banks will be broken up if they fail to adhere to new rules to separate their investment and retail banking businesses, U.K. finance minister George Osborne said.  He also accused banks of failing to take responsibility for their actions five years after the 2008 global financial crisis. His speech came on the same day as the government introduce its Banking Reform Bill in Parliament.

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