Reckless bankers to face jail

The Parliamentary Commission on Banking Standards report recommended several measures, the most eye-catching being jail sentences for reckless bankers, deferring bonuses for up to ten years and reclaiming pensions.

The Parliamentary Commission on Banking Standards has released its report on the British banking system. A year in the making, it is based on testimony from 250 witnesses and runs to almost 600 pages. Its review of the failings of the banking system in the credit crisis produced several recommendations, with the most eye-catching being jail sentences for reckless bankers, deferring bonuses for up to ten years and reclaiming pensions. It also examines ways to bolster competition between banks.

What the commentators said

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.