Vince Cable has rogue directors in his sights, announcing plans to stop people who are convicted of commercial crime overseas from being directors of British companies.

The BBC reports:

The business secretary said dishonest directors could cause “huge” harm.

UK criminals can already be banned as directors, and Mr Cable wants the same for those committed overseas.

The Department for Business, Innovation and Skills (BIS) said the measures are due to be tabled in the Parliamentary session which ends in spring 2015.

They would mean “stronger deterrents” and “more robust sanctions” for the “rogue minority”.

Vince said:

These measures will protect the British economy and our reputation as a good and fair place to do business by banning directors who have already been convicted of offences overseas from running British companies,” he said.

Rogue directors can cause a huge amount of harm in terms of large financial losses, unnecessary redundancies and lifelong investments going down the drain.

These measures come after the very busy BIS department has cracked down on payday lenders, increased consumer rights and attempted to tackle high executive pay.

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