The Law Society believes that the reforms must be practically workable if they are to achieve their objective.
In this respect, it is imperative that banks are still able to function efficiently and effectively in order to provide their customers with the services they need.
We are concerned that the reforms as proposed do not achieve this end.
We respond to this white paper as a body whose 11,000 member firms are predominantly small or medium-sized businesses whose banking arrangements, funding and investment options would be directly affected by the proposals.