Cable to make reckless bosses pay for failure

clock

Negligent directors could be held personally liable for failed companies' debts under a shake-up of corporate law to be unveiled by Vince Cable today.

The business secretary (pictured) will also set out plans for a register to reveal companies' real owners, new statutory duties for the heads of banks, and powers for more watchdogs to ban directors, according to the Sunday Times. The proposals are part of a coalition campaign to crack down on tax evasion and corporate wrongdoing.

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 Your profession

Professional Adviser TV: Creative ways to tackle the advice gap

Professional Adviser TV: Creative ways to tackle the advice gap

With Octopus Money CEO Ruth Handcock and financial adviser Kristian Manton

Professional Adviser
clock 25 April 2025 • 1 min read
Economic secretary confirms wholesale ISA review as experts demand sweeping reform

Economic secretary confirms wholesale ISA review as experts demand sweeping reform

LISA reform front and centre

Beth Brearley
clock 24 April 2025 • 2 min read
 MorganAsh introduces customer support tracking to vulnerability platform

MorganAsh introduces customer support tracking to vulnerability platform

Recording suggested next steps

Jaskeet Briah
clock 24 April 2025 • 2 min read