Chief executive of the Prudential Regulation Authority (PRA), Andrew Bailey, has said it is "more than odd" that the top bosses in control of failed banks have avoided formal charges.
The Telegraph reports Bailey told a conference it was a "source of some surprise" to him that junior bankers had been investigated and taken to court but senior directors had not. Speaking at the Future of Financial Services summit yesterday Bailey said it was "not the job of the regulator" to say if individuals should go to prison. However, he added: “It is to my mind a very striking observation and difficulty with the crisis that no formal action has been taken against any chief executive or any chairmen of a failed institution. "Not because I have a personal vendetta against th...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
