The banking crisis: rethinking and refining the accountability of bank directors

This article considers the accountability of bankers and on the role of the law in holding those responsible accountable for their excesses. First it investigates the possibility of directors' disqualification under s.8 of the Company Directors and effective response. Further, it considers the possibility of introducing a special bank company directors' regime in the Banking Act 2009 that allows the FSA to make an application for wrongful trading irrespective of whether the bank eventually fails. This would link the wrongful trading provisions of the Insolvency Act with the aims of the Banking Act, ensuring that the latter's aims are delivered and that its approach operates in a more meaningful way