Report Calls For Jail Terms For 'Reckless' Bankers

A long-awaited banking report has called for the jailing for senior bankers guilty of reckless misconduct.

Following a number of banking scandals last year, chancellor George Osborne established the Parliamentary Commission on Banking Standards to review the industry and the conduct of bankers.

The reported, welcomed by the Treasury, also calls for the withholding of bonuses for up to 10 years as it criticised the lack of accountability for bankers.

Promising to respond to the report before the summer recess, a spokesman for the Treasury is quoted by the BBC as saying: "Where legislation is needed, we have said we will support it, and the banking bill currently before Parliament can be amended to ensure they are quickly enacted."


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