Banking commission report: Reckless bankers should be jailed

The long-awaited Parliamentary Commission on Banking Standards report has criticised the government's handling of part-nationalised UK banks and recommended criminal sanctions for senior executives who behave "recklessly".

The 570-page report, published today, said "clear lines of accountability and enforceable sanctions" are needed to ensure senior bankers are held responsible for their businesses. Produced in response to a number of failings in the industry, the report noted "the striking limitation on the sense of personal responsibility and accountability of the leaders within the industry for the widespread failings and abuses over which they presided". The commission, headed by Andrew Tyrie MP (pictured), said the appointment of senior bank executives should be approved by the regulator and a new ...