A London judge criticized the time it’s taken to implement ring-fencing rules designed to reduce risk at banks after the 2008 financial crisis, as Barclays Plc becomes the first lender to seek approval of its new structure from the courts.
"Five years is a long time” to implement the rules, no matter how delicate the process, Judge Geoffrey Vos said at a hearing Tuesday. "The world was a very different place 10 years ago."