Osborne bank reforms 'fall short' - Labour

Reforms to the banking sector put forward by Chancellor George Osborne "fall short" of what is needed, according to Labour.

Shadow treasury minister Chris Leslie told BBC News that recommendations by the Parliamentary Commission on Banking Standards had been "watered down"

Under the plans announced by Mr Osborne the UK's banks would be broken up if they failed to follow new rules to ring-fence risky investments from High Street banking.