The logo of the Monte Dei Paschi di Siena bank in Milan. Photograph: Giuseppe Cacace/AFP/Getty Images. Graeme Wearden. Tuesday 6 December 2016 05.13 EST.
The Financial Conduct Authority has proposed a clampdown on trading in contracts for difference (CFDs), spread betting instruments popular with retail traders, triggering a steep sell-off in the sector's shares.
Britain is in the midst of its 'first lost decade' since the 1860s, the Governor of the Bank of England warned last night.
A record �71.4bn was raised by taxing bankers and City institutions last year, highlighting the sector's vital importance to the UK.
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