National Provincial Bank National Provincial Bank National Provincial Bank was a British retail bank which operated in England and Wales from 1833 until 1970 when it was merged into the National Westminster Bank. It continued to exist as a dormant non-trading company until 2016 when it was voluntarily struck off the register and dissolved. Considered one of the "Big Five," the National Provincial Bank expanded during the 19th and 20th centuries and took over a number of smaller banking companies. It was based on Bishopsgate, at the thoroughfare's junction with Threadneedle Street, in London. The National Provincial Bank played a unique role in
Proprietary trading bodies worldwide require that the proprietary trading desk is kept separate from its client-related activity and trading. This is achieved by the use of information barriers (also known as "Chinese walls"), which prevent conflict of interest which might, for example, allow a Bank to front-run its own customers. There often exists confusion between proprietary positions held by market-making desks (sometimes referred to as warehoused risk) and desks specifically assigned the task of proprietary trading. Because of recent financial regulations like the Volcker Rule in particular, most major banks have spun off their prop trading desks or shut them down altogether.