Jail reckless bankers, standards commission urges

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Senior bankers guilty of reckless misconduct should be jailed, a long-awaited report on banking commissioned by the government has recommended.

The cross-party Parliamentary Commission on Banking Standards' fifth report said bankers should in future be accountable for their actions.

It also said some bonuses should be withheld for up to 10 years.

The Treasury welcomed the report, calling it "a very impressive piece of work".

Robert Peston reports.

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