By Claire West

Speaking at the British Bankers' Association (BBA) conference yesterday, Greg Clark MP, Financial Secretary to the Treasury called for LIBOR fixers to be jailed.

“If someone breaks the law, they should be punished. When the crime is serious, they should be locked up.”

This year’s BBA Conference took place against a backdrop of unprecedented scrutiny in the UK banking industry and there have been few days in the last year when the banking industry has not been front page news.

The theme for this year’s conference was “Restoring Trust” and it was with this thought in mind that
Mr Clark went on to say:

“Indeed, just as sentences handed down to those who were convicted in last year’s riots reflected their contribution to the breakdown in the confidence and security enjoyed by ordinary working people, so must a similar premium apply to those crimes which destroy trust that so many people depend on.”