Osborne: Barclays bankers 'may well stand in the dock'

clock

The resignation of Barclays CEO Bob Diamond does not lessen the possibility of criminal proceedings against those involved, Chancellor George Osborne has warned.

Diamond resigned this morning, saying: "the external pressure placed on Barclays has reached a level that risks damaging the franchise - I cannot let that happen." But speaking on the BBC's Today Programme, the Chancellor said there were still question for senior figures to answer. "I do not think the Bob Diamonds of this world would have resigned four or five years ago," he said. "The LIBOR scandal and the manipulation has opened a door on the very bad practices in banking. "They may well stand in the dock - there is a Serious Fraud Office investigation in place." Osborne sa...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Interest rate cuts expected after UK GDP edges up 0.1%

Interest rate cuts expected after UK GDP edges up 0.1%

Construction output lowest since 2021

Patrick Brusnahan
clock 12 February 2026 • 2 min read
Leaked Budget document viewed almost 25,000 times ahead of speech

Leaked Budget document viewed almost 25,000 times ahead of speech

Office for Budget Responsibility chair Richard Hughes quit as a result

Jenna Brown
clock 11 February 2026 • 2 min read
BoE's Andrew Bailey: World economy 'remarkably resilient' amid uncertainty

BoE's Andrew Bailey: World economy 'remarkably resilient' amid uncertainty

Markets now 'cautious'

Patrick Brusnahan
clock 09 February 2026 • 1 min read