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Bankers whose actions constitute reckless misconduct should be jailed, according to a report by a parliamentary commission investigating the British banking industry, reports the Financial Times.
The 571-page report slammed bankers’ lack of accountability and suggested some bonuses should be withheld for up to 10 years while the impact of executives’ decisions could be assessed.
It also called on the government to study alternatives to selling off the Royal Bank of Scotland, which was part nationalised in 2008, including breaking it up.
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