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UK urged to beef up power to ban rogue bankers
Britain needs more power to ban rogue bankers and should set up a new body to oversee a stringent code of standards, banks and regulators said in proposals to repair the industry’s battered reputation.
Britain’s financial regulator asked for more powers to root out abuse, including the power to ban temporarily anyone in an influential position, to help restore public trust in the sector.
“This power would be a significant tool which would allow the regulators to act swiftly to counter any threat to their objectives by an approved person remaining in position pending an appeal,” the Financial Services Authority said on Friday.
http://uk.reuters.com/article/2012/09/21/uk-banks-britain-standards-idUKBRE88K0TK20120921?WT.tsrc=Social+Media&WT.z_smid=twtr-reuters_co_uk&WT.z_smid_dest=Twitter
