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)
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.