Banks will be required to give regulators an annual health check on all their senior staff to confirm they are suitable to keep their 'authorised' status in the UK.
Tim Wise of JP Morgan is made of stout moral stuff. When advising the Co-op Group on its ill-fated transaction with Britannia Building Society in 2009, his judgments were not swayed one iota by the knowledge that a £5m fee for his employer would only be paid if the deal actually happened.
The Libor rigging scandal was reignited on Tuesday, forcing the chairman of Rabobank to quit after the Dutch bank was fined €774m (£662m) for rigging the benchmark interest rate.
To the surprise of almost nobody, the banks want to get around the EU's bonus cap. And, to the surprise of even fewer, Barclays is at the head of the pack. The solution? Pay rises all round.
The EU's financial services chief has defended the right to cap City bankers' lavish bonuses in the face of a legal challenge from Britain over new pay rules.
Suspicions that the vast global currency markets may have been rigged by major banks and traders has sparked the City regulator to launch a formal investigation into the £3tn a day market.
The two-week political stalemate in Washington might be dominating the headlines, but across the Atlantic, euro zone ministers have been wrangling over a vital piece of financial regulation for months.
Barclays is facing court action in the US as energy regulators attempt to force the scandal-hit UK bank to pay a $470m (£330m) penalty for allegedly manipulating power prices in California.
Paul Tucker, deputy governor of the Bank of England, told MPs on Tuesday that Britain's banking system would not be safe until top bankers could acknowledge they were taking too many risks.
Senior bankers will face up to seven years in jail if they are found to have committed a new offence of reckless misconduct being proposed by the government as part of a series of measures to clean up the City in the wake of the 2008 banking crisis.
The guys at the top really haven't a clue.