'Reckless' bankers risk prison in Britain: lawmakers | Bangkok Post: news

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'Reckless' bankers risk prison in Britain: lawmakers

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Bankers found guilty of "reckless misconduct" in Britain could end up in prison and be stripped of bonuses, under draconian proposals on Wednesday to clean up London's scandal-hit financial sector. 

This picture taken on January 9, 2013 shows a view of London. Britain needs a "radical" overhaul of its scandal-hit banks, with reckless bankers facing jail and bonuses deferred for up to ten years, a government commission set up after the Libor scandal proposed in a final report on Wednesday.

The Parliamentary Commission on Banking Standards, established by the government after the Libor rate-rigging scandal last year, made the recommendations in a final report that amounted to a blunt indictment of malpractice.

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