Failed bank chiefs 'may be banned' from top City jobs

Former directors of failed banks could be banned from taking lucrative jobs in the City under plans being drawn up by the regulator.

Yesterday the FSA said in its annual business review it is exploring various options to bar former bank chiefs ‘on the basis that the person’s previous role as a director of a bank that failed raises fundamental questions about their competence or general suitability to perform a similar role again’. These proposals will be set out in a discussion paper in the first half of the year, according to the Mail. This raises the prospect that former directors at Lloyds Halifax Bank of Scotland, Northern Rock and RBS still working in financial services could be stripped of their jobs or banne...