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Cable shakes up corporate law to make company bosses pay for failure

by: IFAonline
  • 15/07/2013
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Cable shakes up corporate law to make company bosses pay for failure
Negligent directors could be held personally liable for failed companies' debts under a shake-up of corporate law to be unveiled by Vince Cable today.

The business secretary (pictured) will also set out plans for a register to reveal companies’ real owners, new statutory duties for the heads of banks, and powers for more watchdogs to ban directors, according to the Sunday Times.

The proposals are part of a coalition campaign to crack down on tax evasion and corporate wrongdoing.

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