Directors who have been banned in foreign countries will be automatically barred in UK under new plans
The government is set to unveil plans for tougher rules for misbehaving company directors, especially in the financial sector.
Business secretary Vince Cable is expected to announce the plans at the Liberal Democrat conference in Glasgow today, CityAM reports.
Under the plans, directors who have been banned in foreign countries will face an automatic ban from similar positions in the UK.
The government also plans to remove time limits on prosecutions on complex misconduct cases and introduce a new training programme for disqualified directors who want to return to the market.
Cable is expected to say: “We need to see fairness as well as trust in our director disqualification regime.
“For too long, a small, rotten core has got away with either a slap on the wrist, a ban from working in their own industry or, at the most, a limited time ban.”
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