New 10-minute rule bill: The Financial Institutions (Reform) Bill


Next wednesday, after PMQs, I’ll be seeking leave to introduce a Bill to make bank directors and the recipients of bonuses liable for bank losses, amongst other measures. Via Parliament’s future business:

FINANCIAL INSTITUTIONS (REFORM)

Steve Baker

That leave be given to bring in a Bill to enforce strict liability on directors of financial institutions; to require directors of financial institutions to post personal bonds as additional bank capital; to require personal bonds and bonuses to be treated as additional bank capital; to make provision for the insolvency of financial institutions; to establish a financial crimes investigation unit; and for connected purposes.

Over the next few days, I’ll blog about each of my Bill’s proposed provisions.

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