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Regulator surprised no bank bosses face charges over financial crisis

Publié par Clifford Armion le 16/04/2013

Rupert Neate

Britain's most senior banking regulator has questioned why none of the bosses of the country's failed banks have been formally charged over their roles in the financial crisis. Andrew Bailey, head of the new banking regulator, the Prudential Regulation Authority, said: "It is more than odd that action has been taken against people lower down in institutions, but no action has been taken at the top."
At a conference debating how to rebuild trust in Britain's scandal-hit banks, Bailey said it was a "source of surprise" that no senior bank directors have been disqualified. He pointed out that the secretary of state sought the disqualification of Barings Bank for their roles in failing to adequately supervise Nick Leeson.
Chuka Umunna, the shadow business secretary, said bankers caught trying to play the system in order to line their own pockets should be "thrown into jail".
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"Regulator surprised no bank bosses face charges over financial crisis", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), avril 2013. Consulté le 18/10/2021. URL: http://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/regulator-surprised-no-bank-bosses-face-charges-over-financial-crisis