Criminal Prosecution of Bank CEOs Sought by Lawmakers After UBS
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Senior U.S. lawmakers from both parties are seeking more criminal prosecutions for executives tied to financial-industry wrongdoing as the government reaches billion-dollar settlements with UBS AG and HSBC Holdings Plc.
Representative Barney Frank, a Massachusetts Democrat and co-writer of the 2010 regulation overhaul that bears his name, said in a letter to U.S. Attorney General Eric Holder this week that the Justice Department must increase prosecution of individuals to ensure the “integrity of our financial system.”