£290 mill in fines, what do bankers have to do go to prison?
Discussion
voicey said:
I doubt anyone will be going to prison over this. I expect the FSA to prosecute those involved under "Market Abuse" legislation which is a civil offence, thus porridge is off the table.
They could prosecute under "Misleading Statements and Practices" but as it's a criminal offence it is much harder to prove and our beloved regulator loves to take things easy...
It's a little while since I looked at criminal law - but wouldn't the equivalent of "obtaining a pecuniary advantage by deception" do? They could prosecute under "Misleading Statements and Practices" but as it's a criminal offence it is much harder to prove and our beloved regulator loves to take things easy...
It's a basic fraud after all.
Bluebarge said:
voicey said:
I doubt anyone will be going to prison over this. I expect the FSA to prosecute those involved under "Market Abuse" legislation which is a civil offence, thus porridge is off the table.
They could prosecute under "Misleading Statements and Practices" but as it's a criminal offence it is much harder to prove and our beloved regulator loves to take things easy...
It's a little while since I looked at criminal law - but wouldn't the equivalent of "obtaining a pecuniary advantage by deception" do? They could prosecute under "Misleading Statements and Practices" but as it's a criminal offence it is much harder to prove and our beloved regulator loves to take things easy...
It's a basic fraud after all.
djstevec said:
Bluebarge said:
voicey said:
I doubt anyone will be going to prison over this. I expect the FSA to prosecute those involved under "Market Abuse" legislation which is a civil offence, thus porridge is off the table.
They could prosecute under "Misleading Statements and Practices" but as it's a criminal offence it is much harder to prove and our beloved regulator loves to take things easy...
It's a little while since I looked at criminal law - but wouldn't the equivalent of "obtaining a pecuniary advantage by deception" do? They could prosecute under "Misleading Statements and Practices" but as it's a criminal offence it is much harder to prove and our beloved regulator loves to take things easy...
It's a basic fraud after all.
Easy answer to ALL THIS CRAP:
Disband the FSA and all like organisations
BAN all money trading
BAN all variable interest rates - Fix for ever!
BAN all variable FOREIGN exchange rates - Fix forever!
BAN the Footsie and all other trading centres
RESTAFF all job-centres
...then go home, have a cup of tea and a slice of cake, and watch telly!
Disband the FSA and all like organisations
BAN all money trading
BAN all variable interest rates - Fix for ever!
BAN all variable FOREIGN exchange rates - Fix forever!
BAN the Footsie and all other trading centres
RESTAFF all job-centres
...then go home, have a cup of tea and a slice of cake, and watch telly!
Bluebarge said:
voicey said:
I doubt anyone will be going to prison over this. I expect the FSA to prosecute those involved under "Market Abuse" legislation which is a civil offence, thus porridge is off the table.
They could prosecute under "Misleading Statements and Practices" but as it's a criminal offence it is much harder to prove and our beloved regulator loves to take things easy...
It's a little while since I looked at criminal law - but wouldn't the equivalent of "obtaining a pecuniary advantage by deception" do? They could prosecute under "Misleading Statements and Practices" but as it's a criminal offence it is much harder to prove and our beloved regulator loves to take things easy...
It's a basic fraud after all.
3Dee said:
Easy answer to ALL THIS CRAP:
Disband the FSA and all like organisations
BAN all money trading
BAN all variable interest rates - Fix for ever!
BAN all variable FOREIGN exchange rates - Fix forever!
BAN the Footsie and all other trading centres
RESTAFF all job-centres
...then go home, have a cup of tea and a slice of cake, and watch telly!
Or introduce some legislation with some proper oversight. Reminds me of the prohibition era, completely different scenario but everyone thought the booze runs couldn't be stopped. One man and his gang thought differently.Disband the FSA and all like organisations
BAN all money trading
BAN all variable interest rates - Fix for ever!
BAN all variable FOREIGN exchange rates - Fix forever!
BAN the Footsie and all other trading centres
RESTAFF all job-centres
...then go home, have a cup of tea and a slice of cake, and watch telly!
Tea and cake sounds splendid!
crankedup said:
Or introduce some legislation with some proper oversight. Reminds me of the prohibition era, completely different scenario but everyone thought the booze runs couldn't be stopped. One man and his gang thought differently.
Tea and cake sounds splendid!
The regulation is already there, the failure of Barclays compliance dept when they were told about this is very important. The FSA cannot listen to every phone call, read every instant messege or email in real time.Tea and cake sounds splendid!
djstevec said:
crankedup said:
Or introduce some legislation with some proper oversight. Reminds me of the prohibition era, completely different scenario but everyone thought the booze runs couldn't be stopped. One man and his gang thought differently.
Tea and cake sounds splendid!
The regulation is already there, the failure of Barclays compliance dept when they were told about this is very important. The FSA cannot listen to every phone call, read every instant messege or email in real time.Tea and cake sounds splendid!
crankedup said:
djstevec said:
crankedup said:
Or introduce some legislation with some proper oversight. Reminds me of the prohibition era, completely different scenario but everyone thought the booze runs couldn't be stopped. One man and his gang thought differently.
Tea and cake sounds splendid!
The regulation is already there, the failure of Barclays compliance dept when they were told about this is very important. The FSA cannot listen to every phone call, read every instant messege or email in real time.Tea and cake sounds splendid!
First it was derivatives then PPI now this, it does seem that the banks can get away with anything and there is absolutely no accountability.
Three years ago I had to put a business into administration because of a bad debt and an impatient bank, the administrators investigated everything and made it absiilutly clear that if in their opinion I had misbehaved in any way whatsoever I would become personally liable and would face criminal charges.
It's about time bankers are held personnally responsible for their actions.
Three years ago I had to put a business into administration because of a bad debt and an impatient bank, the administrators investigated everything and made it absiilutly clear that if in their opinion I had misbehaved in any way whatsoever I would become personally liable and would face criminal charges.
It's about time bankers are held personnally responsible for their actions.
Sheer jealousy, everyone wishes they were also milking the tit, but as they can't they need a scapegoat.
The current subject of 'hate week' is bankers.
Basically the entire system is corrupt, if you're happy to be part of it then join the party however you can.
Or alternatively whine about it while carrying on drinking your carling and watching sky tv like a good little ******.
The current subject of 'hate week' is bankers.
Basically the entire system is corrupt, if you're happy to be part of it then join the party however you can.
Or alternatively whine about it while carrying on drinking your carling and watching sky tv like a good little ******.
Motorrad said:
Sheer jealousy, everyone wishes they were also milking the tit, but as they can't they need a scapegoat.
The current subject of 'hate week' is bankers.
Basically the entire system is corrupt, if you're happy to be part of it then join the party however you can.
Or alternatively whine about it while carrying on drinking your carling and watching sky tv like a good little ******.
Give us a kiss.The current subject of 'hate week' is bankers.
Basically the entire system is corrupt, if you're happy to be part of it then join the party however you can.
Or alternatively whine about it while carrying on drinking your carling and watching sky tv like a good little ******.
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