Reckless bankers could face criminal charges and jail after the Chancellor pledged to implement most of the recommendations produced by the Parliamentary Commission on Banking Standards.
George Osborne is also backing calls for tighter control of bonuses but he has rejected the Commission's recommendation that UK Financial Investments (UKFI) - the body that handles the state's holdings in the Royal Bank of Scotland and Lloyds Banking Group - be abolished.
In a statement, the Government set out key proposals from the commission to be added to the banking reform Bill in the autumn.
These are to include a new offence of "reckless misconduct" for senior bankers, with those found guilty facing a possible jail sentence.
Lloyds then RBS face returns to private ownership after taxpayer bailoutsMr Osborne also backed moves to allow bonuses to be deferred for up to 10 years and enable 100% "claw back" of bonuses where banks are propped up by the state.
Further measures, designed to improve competition, will include asking the new payments regulator to look into making it easier to switch between accounts, and beefing up the role of the new Prudential Regulation Authority.
Labour has accused the Government of ducking radical reforms and is demanding that ministers explain how it will protect taxpayers' interests when the state-owned stakes in Lloyds and RBS are sold off.
The commission, chaired by Conservative MP Andrew Tyrie, was set up by the Chancellor in the wake of the financial crisis and the Libor rate-rigging scandal.
Mr Osborne said the main recommendations of its report, published last month, were being delivered.
He said cultural reform was necessary in banking "to move the whole sector from rescue to recovery and ensure that UK banks demonstrate the highest standards, and are able to support business and drive economic growth."
He added: "The Government is determined to raise standards across the banking industry to create a stronger and safer banking system."
Business Secretary Vince Cable said: "If we're to get our economy back on track, we need to get the banking system back on track first.
"Creating new powers to jail bankers who are reckless with other people's money and getting more competition into banking, is a start."
Anda sedang membaca artikel tentang
Bad Bankers Face Criminal Charges And Jail
Dengan url
http://clotehancamar.blogspot.com/2013/07/bad-bankers-face-criminal-charges-and.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Bad Bankers Face Criminal Charges And Jail
namun jangan lupa untuk meletakkan link
Bad Bankers Face Criminal Charges And Jail
sebagai sumbernya
0 komentar:
Posting Komentar