Miliband seeks crackdown on bankers
September 11, 2011
Irresponsible bankers who take unacceptable risks or mis-sell products to customers should be barred from the profession, Ed Miliband has said.
The Labour leader demanded tough new rules allowing regulators to “strike off” reckless City staff in the same way negligent midwives and doctors can be ruled unfit for practice.
His call came ahead of the publication of the Independent Commission on Banking’s (ICB) final report which will make recommendations on how to prevent another banking crisis, and as Business Secretary Vince Cable warned the industry to prepare for sweeping reforms.