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Bankers Pay Back?

Lord Turner, Chairman of the Financial Services Authority, has issued a warning to failed banks that they could be forced to repay two years worth of salary.

Lord Turner has followed current US legislation as he has stated he feels that this would be an attractive option to deter banks from taking unnecessary or excessive risks in their business.

Business Secretary, Vince Cable, has criticised the FSA for not releasing the report into the scandal of The Royal Bank of Scotland's failings. Lord Turner has responded by saying that he is not fundamentally opposed to releasing such reports in the future. However, he has also said that the RBS report was a complicated matter to publish due to the compartmentalised and siloed manner in which it is written.

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