LONDON – Two independent directors on the board that oversees HSBC’s British business may leave the bank over stricter rules aimed at holding bankers more accountable for reckless actions that may lead to the failure of a lender, according to a person with direct knowledge of the matter.
Alan Thomson, a member of the audit and risk committees at HSBC Bank, has tendered his resignation and will leave the bank later this month, said the person, who was not authorized to discuss the matter publicly.
John Trueman, deputy chairman of the bank’s British business, is also considering whether to leave over the new rules.
HSBC declined to comment on Tuesday.
Sky News reported on Tuesday that Mr. Thomson had resigned and Mr. Trueman was considering leaving.
The potential resignations come as regulators in Britain are seeking broader powers to recover bonuses from bankers who engage in wrongdoing and to hold top bank officials liable for actions of their underlings.
This summer, the Prudential Regulation Authority, a regulatory arm of the Bank of England, introduced new rules that would allow banks in Britain to reclaim bonuses paid to bankers who engage in wrongdoing, up to seven years after the misconduct.
The British government has also introduced criminal penalties for senior managers if their reckless decisions lead to a bank’s failure.
The rules are part of a broad package of financial reforms in recent years to combat the perception that regulators in Britain did too little to oversee bank conduct ahead of the financial crisis and ensuing scandals, including the manipulation of global benchmark interest rates like the London interbank offered rate, or Libor.