BIBA : "Queen's speech failed to address liability issue"

BIBA has said it is "regretable" that the Queen's speech did not address the personal liability issue.

Today's Queen's speech did not address financial services issues directly, focusing instead on new criminal justice legislation.

A BIBA spokeswoman said: "It is unfortunate that the government missed this opportunity to tackle the problem of liability.

"BIBA has been pushing for the government to deal with this massive problem and we would have hoped for some legislation in the Queen's speech."

Unions also reacted angrily, according to the BBC, that government plans to implement charges of corporate killing will be postponed.

Among the few financial services bills, the government revealed plans to "clean up" ancient fraud laws to make it easier to prosecute white-collar criminals.

An ABI spokesman said: "We support good corporate governance and transparent organisations. If the legislation achieves these aims then the ABI welcomes it."