Ed Miliband: Bankers should be 'struck off' for breaking the rules

Ed Miliband has suggested that bankers should have a 'code of conduct' and should face being struck off if they break the rules.

He has also pointed out that the annual budget of the Serious Fraud Office is currently one tenth of the amount Barclays paid in fines for rigging the Libor rate.

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Labour's 'banking revolution'

Labour leader Ed Miliband has called for a major overhaul in the banking sector. Miliband called for an increase in the power of the Serious Fraud Office and an end to 'light touch' regulation.