Osborne: Barclays bankers 'may well stand in the dock'

clock

The resignation of Barclays CEO Bob Diamond does not lessen the possibility of criminal proceedings against those involved, Chancellor George Osborne has warned.

Diamond resigned this morning, saying: "the external pressure placed on Barclays has reached a level that risks damaging the franchise - I cannot let that happen." But speaking on the BBC's Today Programme, the Chancellor said there were still question for senior figures to answer. "I do not think the Bob Diamonds of this world would have resigned four or five years ago," he said. "The LIBOR scandal and the manipulation has opened a door on the very bad practices in banking. "They may well stand in the dock - there is a Serious Fraud Office investigation in place." Osborne sa...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read
Bank of England halts interest rate cuts amid ongoing inflation

Bank of England halts interest rate cuts amid ongoing inflation

As priced in by markets

Sorin Dojan
clock 20 March 2025 • 2 min read
More work needed to tackle inflation as BoE members warn of further market turmoil

More work needed to tackle inflation as BoE members warn of further market turmoil

BoE MPC members spoke at Treasury Committee hearing

Sorin Dojan
clock 06 March 2025 • 2 min read