Kwasi Kwarteng has caused a stir amongst directors of Aim-listed companies by tightening their regulatory standards, in an attempt to ‘restore confidence in companies’ following the collapse of some high-profile businesses.

The long-awaited white paper, which is now in the 16 week consultation stage, is designed to put more responsibility onto the directors of these large firms to make sure there is openness and transparency in their accounting records.

Kwasi has included clauses which will allow insolvency practitioners to force directors to pay back any bonuses from up to two years, should companies fail.