Two directors of HSBC's UK bank to quit over new rules - source
LONDON (Reuters) - Two directors of HSBC Holdings Plc's British business are set to leave the bank because they are unhappy with new rules that can result in jail sentences for senior bankers, a source familiar with the matter said.
Alan Thomson, a member of the audit and risk committees of HSBC Bank Plc, has tendered his resignation from the bank and John Trueman, the deputy chairman of HSBC Bank Plc, is on the verge of resigning, the source said.
Sky News reported on Tuesday that the likely departures of both men were a direct consequence of new proposals to strengthen accountability for senior bankers.
The Bank of England has launched a consultation on tougher oversight of top bankers, known as the Senior Persons Regime, as called for by a Parliamentary Commission on Banking Standards.
The new regime includes powers to jail bankers for up to seven years for reckless misconduct. Top bankers would have to prove to regulators they were not aware of or had challenged dubious behaviour at the time.
(Reporting by Matt Scuffham; Editing by Steve Slater)
