The Banking Crisis: Rethinking and Refining the Accountability of Bank Directors

摘要

This article considers the accountability, of bankers and on the role of the law in holding those responsible accountable for their excesses. First it investigates the possibility of directors' disqualification under s.8 of the Company Directors Disqualification Act 1986, and questions whether disqualification is an appropriate and effective response. Further, it considers the possibility of introducing a special bank company directors' regime in the Banking Act 2009 that allows the FSA to make an application for wrongful trading irrespective of whether the bank eventually fails. This would link the wrongful trading provisions of the Insolvency Act with the aims of the Banking Act, ensuring that the latter's aims are delivered and that its approach operates in a more meaningful way.