Call to subject banks to same scrutiny as pension trustees

This comes after other industry figures warned the fixing of LIBOR by Barclays and potentially other banks which are still under investigation could hit pension funds (PP Online, 29 June). Buck Consultants managing director Fraser Smart said banks must be curtailed in the light of the LIBOR fixing scandal. "Deputy Prime Minister Nick Clegg has said we need people in banking who take responsibility when things go wrong, not just the big bucks when things go right," said Smart. "We also need people in government to impose much tighter laws on banks to make them behave professionally ...