Criminal law is not a tool for improving financial stability

In this Spotlight article, Professor Avinash Persaud considers the UK Government’s amendments to the Banking Reform Bill, which support the recommendations by the Parliamentary Commission on Banking Standards, to introduce a new criminal offence of reckless misconduct in the management of a bank. He argues the proposals are well-intentioned but incoherent, they risk perversions of natural justice and are based around the false notion that financial crashes are caused by individual malfeasance.

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This article was first published in November 2013 in the Journal of International Banking & Financial Law.

Filed Under: JIBFL

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