UK to strengthen sanctions against failed bankers

LONDON Mon Feb 4, 2013 11:28am GMT

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LONDON (Reuters) - Chancellor George Osborne said on Monday that the government plans to strengthen sanctions against senior bankers and open up bank payment systems to stimulate competition in the industry.

"I want to see how we can strengthen the sanctions regime for senior bankers - for example, should there be a presumption that the directors of failed banks do not work in the sector again?," Osborne said in a speech on bank reform.

(Reporting by Matt Scuffham; Editing by Steve Slater)