Mark Carney to warn rogue City traders they should face 10 years in jail
by Jill Treanor from on (#AVSN)
Bank of England governor to unveil four-pronged attack against 'ethical drift' in global markets including a new standards board and stiffer prison sentences
Mark Carney is to warn City traders that they should face up to 10 years in jail for rigging and abusing markets as he pledged to end "the age of irresponsibility" that has gripped the financial sector.
The Bank of England governor acknowledged the economic harm caused by what he described as the "ethical drift" that took hold in the fixed income, currency and commodities (FICC) markets before the financial crisis.
Related: Deutsche Bank bosses resign following Libor manipulation scandal
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