Labour MP says banking report doesn't go far enough

Labour MP John Mann, who sits on the influential Treasury Select Committee, said the Banking Commission's report does not go far enough:

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Banking commission fails to get to grips with the fundamental issue: why banks can take huge risks and get away with wrecking the economy

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Banking commission dabbles with banking culture but avoids dealing with bank power

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Two key banking commission omissions: accountability and transparency

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Proposals to jail reckless bankers

Senior bankers should be personally responsible for malpractice, with a new criminal offence of reckless misconduct in the management of a bank that carries a custodial sentence, the Banking Commission has concluded in its final report.