HM Treasury Considers Sanctions for Directors of Failed Banks
Following the findings of a report by the Financial Services Authority into the failure of the Royal Bank of Scotland, Her Majesty's Treasury has published a consultation paper on sanctions for directors of failed banks.
The proposals envisage a bar on such directors being able to hold similar positions at other financial institutions in the future, and also suggest new criminal penalties for serious misconduct in the management of a bank.
Responses to the consultation should be submitted by September 30, 2012.