Ref No99137
Alt Ref No99137
Artist or CreatorDave Brown
Title or CaptionParliamentary Commission on Banking Standards
Extent1 item
Published byThe Independent
Date20 Jun 2013
Person DepictedOsborne; George (1971-)
Implied textFat cats of capitalism
NotesNews: "Britain's banking bosses should face jail if their decisions force fresh bailouts, the Parliamentary Commission on Banking Standards says today. The commission's hotly anticipated report urges the Chancellor, George Osborne, to oversee the creation of a new offence of "reckless misconduct in the management of a bank". Were such an offence in place in the aftermath of the financial crisis, several banking leaders could have faced prosecution. The parliamentary commission, which was established by Mr Osborne to reform banking after the Libor scandal, describes the failure of senior financiers to accept blame for their actions as "dismal". It says new rules are required to force executives to take proper responsibility. The report also calls for a new licensing regime for bankers, underpinned by strict rules to ensure traders and even branch staff who mis-sell financial products are faced with the full force of penalties open to Britain's financial watchdogs. .... " James Moore, Nigel Morris, The Independent
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GB/BCA/8134Osborne; George (1971-)1971-  
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