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Cable Pledges Crackdown on Directors of Failed U.K. Firms

U.K. Business Secretary Vince Cable announced a crackdown on reckless company directors, making it easier to ban them from future board-level roles and for their victims to sue them for compensation.

Cable has called in the past for prosecutors to look at whether the people who were running Royal Bank of Scotland Group Plc and HBOS Plc when they collapsed should be banned from acting as directors. So far, only Peter Cummings of HBOS and Johnny Cameron of RBS have faced any formal sanction.