Oct. 11 (Bloomberg) -- Icelandic lawmakers are moving ahead with a motion to require the island’s lenders to split their businesses into commercial and investment banking.
If approved, Industry Minister Steingrimur J. Sigfusson will appoint a committee to oversee how to best conduct a separation to minimize the risks posed to Iceland’s economy, according to the motion posted on parliament’s website.
The committee will be asked to deliver its proposals by Feb. 1 next year.
To contact the reporter on this story: Omar R. Valdimarsson in Reykjavik firstname.lastname@example.org.
To contact the editor responsible for this story: Jonas Bergman at email@example.com.