Andrew Tyrie, chairman of the Independent Commission on Banking, called for further reserve power to break up banks if they do not adhere to rules to separate investment and high street operations.
The Bill is certainly much improved. However, the Government rejected a number of important recommendations.
The Commission has examined these again, alongside the Government's explanations for rejecting them.
We have concluded that the Government's arguments are insubstantial. There remains much more work to be done to improve the Bill.
He added that the Government had also failed to address the panel's recommendation for a periodic, independent review of whether the ring-fence is doing its job. Bank of England governor Sir Mervyn King is among those in favour of this.
More top news
Continuing unsettled today with the best dry and bright weather across northern Scotland and Northern Ireland.
The girl, whose drinks stand outside her home was shut down, and her father fined £150, have received offers to set up stalls elsewhere.
The Labour leader said he would join the BBC's leading female stars in signing an open letter to the Director General to close the pay gap.