Commentary Ring-fencing Section 10: Independent review of proprietary trading
92.Section 10 requires the Treasury (once it has received the PRA’s report on proprietary trading) to make arrangements for an independent review of proprietary trading, by appointing one or more independent reviewers, following consultation with the Chair of the Treasury Committee of the House of Commons. The independent review must state whether the reviewers agree with the conclusions of the PRA’s report; whether any additional restrictions should be imposed on proprietary trading by relevant authorised persons, and make any other recommendations the reviewers consider to be appropriate. As with the PRA’s report, the report of the independent review must be delivered to the Treasury and laid before Parliament.