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German plans to jail bankers
THE GERMAN government is considering a new law to imprison bank executives for up to five years if they are found guilty of reckless behaviour that puts a bank at risk.
“We’ve found a regulatory gap here that we want to close,” a senior government official in Berlin said yesterday. According to the draft banking law amendment, which the cabinet discussed yesterday, a manager may face a jail sentence if he deliberately ignored risk rules and thereby risked the collapse of a financial institution.