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The Governor of the Bank of England will launch a scathing attack on ethical standards in the City.
He will say that individuals acted with a "culture of impunity".
He will also say that markets responsible for trillions of pounds of global trade were stained by excess, collusion and abuse.
In his Mansion House speech tonight, Mark Carney will say there should be new criminal sanctions to punish traders.
Prison sentences should be increased, he will say.
He will add that that following billions of pounds of fines for banks involved in the manipulation of markets, public trust had been eroded and that "ethical drift" had taken hold.



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