They should definitely not be banned – it is easy to blame everything on one person. These people have many years of experience in their jobs, and they should be able to continue to utilise this, for themselves and for others.
Directors should be held accountable as a future deterrent to others. The fact is that with the luxury of their positions comes a responsibility, not just for themselves but also for the people beneath them. Regulation is also to blame.
There is definitely a responsibility that goes with that kind of position – an obligation not to engage in gross misconduct. I don’t think it is fair to completely ban someone from working in the City but if the committed activities are so egregious, then their public reputations should be destroyed.
These views are those of the individuals above and not necessarily those of their company