Ed Miliband: Bad bankers must be struck off

9 July 2012 Last updated at 07:27 ET Help

Labour has stepped up demands for a shake-up of the banking system, with a call for a code of conduct for bankers.

In a speech in London, party leader Ed Miliband said that bankers should be "struck off" if they are found to have committed a serious breach of the code.

''We need decisive action now, so that no-one can say Britain is a soft touch for the prosecution of financial crime,'' he added.

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