City regulators to investigate former HBOS senior managers

28th January 2016


City watchdogs the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) are to commence investigations into certain former HBOS senior managers.

The decisions follows a report by Andrew Green QC regarding the Financial Services Authority’s enforcement actions following the failure of HBOS, which collapsed during the financial crisis.

The report recommended that the FCA and PRA should consider whether any former HBOS senior managers should be the subject of an enforcement investigation.

The regulators said: “These investigations will determine whether or not any prohibition proceedings should be commenced against them. “

The FCA and PRA said that they are continuing to review materials with a view to making further decisions regarding other former HBOS senior managers.

1 thought on “City regulators to investigate former HBOS senior managers”

  1. Jive Bunny says:

    To little too late!! It was bleedin obvious back in the mists of time in 2008 that there was gross incompetence on the senior management board with the, again, obvious exception of Paul Moore who told them they wee a load of planks and needed to recalibrate their risk exposure with the result that he was dismissed, presumably for being effective at his job!!!

    Even now the FCA and PRA cannot see who is to blame and need to make further investigations!!! WHY SHOULD ENGLAND TREMBLE!!!!

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