=sw=warlord
January 8th, 2012, 10:12 PM
How about some good news for a change?
Bank chiefs who put major institutions at risk and damage the economy could face jail under new laws being considered by ministers.
The Treasury said a new offence of corporate negligence was among options being considered to punish reckless bankers.
Tougher punishments for bankers who took too many risks were called for by the head of the City regulator last month after its investigation into the near-collapse of RBS.
Adair Turner, chairman of theFinancial Services Authority (http://www.fsa.gov.uk/) (FSA), spoke out after it took no action against the bosses of the part-nationalised bank.
While RBS chief executive Sir Fred Goodwin and his team had made bad decisions they had not broken any existing rules, he said.
http://news.sky.com/home/business/article/16144572
(http://news.sky.com/home/business/article/16144572)And to add some salt to that wound?
David Cameron has indicated he will back plans for shareholders to have a veto on executives' pay amid growing demands to curb lavish salaries and bonuses.
Until now shareholder votes on pay deals have not been binding so they have been unable to block large payouts to bosses.But Mr Cameron says he is determined to end the "merry-go-round" of super-rich bosses rubber-stamping each other's enormous salaries and being rewarded for failure.The Prime Minister has said he wants to make changes this year to correct the problem.http://news.sky.com/home/politics/article/16144464
Bank chiefs who put major institutions at risk and damage the economy could face jail under new laws being considered by ministers.
The Treasury said a new offence of corporate negligence was among options being considered to punish reckless bankers.
Tougher punishments for bankers who took too many risks were called for by the head of the City regulator last month after its investigation into the near-collapse of RBS.
Adair Turner, chairman of theFinancial Services Authority (http://www.fsa.gov.uk/) (FSA), spoke out after it took no action against the bosses of the part-nationalised bank.
While RBS chief executive Sir Fred Goodwin and his team had made bad decisions they had not broken any existing rules, he said.
http://news.sky.com/home/business/article/16144572
(http://news.sky.com/home/business/article/16144572)And to add some salt to that wound?
David Cameron has indicated he will back plans for shareholders to have a veto on executives' pay amid growing demands to curb lavish salaries and bonuses.
Until now shareholder votes on pay deals have not been binding so they have been unable to block large payouts to bosses.But Mr Cameron says he is determined to end the "merry-go-round" of super-rich bosses rubber-stamping each other's enormous salaries and being rewarded for failure.The Prime Minister has said he wants to make changes this year to correct the problem.http://news.sky.com/home/politics/article/16144464