MPs to demand radical overhaul of punishment for bankers

The final report by the Commission on Banking Standards could be released as early as this week and will contain a series of recommendations on bank governance as well as changes to the "approvals regime", which registers senior bank executives, the Sunday Telegraph reports. The 568-page document is expected to say the regime has failed and needs to be replaced, as well as urging regulators to enforce current laws rather than recommending new criminal legislation for the banking industry. It was the disclosure that Lord Stevenson, the former chairman of HBOS, had remained an "approved...