What the Banking Commission report says about…
…bad bankers The commission wants to encourage greater personal responsibility, through making it clear with whom the buck stops for each key area within a bank, and sanctions including a criminal offence of reckless misconduct in the management of a bank. The report emphasises that it would be rare to secure a conviction under this offence, but that it would apply ‘in cases involving only the most serious of failings, such as where a bank failed with substantial costs to the taxpayer, lasting consequences for the financial system or serious harm to customers’. It also recommends that the PRA and FCA be able to put banks into ‘special measures’, where
