The UK Treasury will on Wednesday unveil plans to increase protection for clients and counterparties of failing investment banks, in efforts to prevent a repeat of the legal wrangling accompanying the collapse of Lehman Brothers. In one proposal to be announced by Lord Myners, City minister, banks would have to keep updated, centralised information about counterparties and write employment contracts in such a way as to retain key staff for a period in an insolvency.

This entry was posted by Gwen Robinson on Wednesday, December 16th, 2009 at 5:13 and is featured in The 6am Cut London (16 Dec 2009) . Tagged with Lehman Brothers, lord myners. Edit this entry.