City regulators to look into possible bans for HBOS execs
City regulators will today decide if bans should be imposed on chiefs at HBOS after a long-awaited report into the bank’s collapse is published.
The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) are expected to announce that they will undertake more work on potential enforcement action against individuals.
Sky News also reported that a separate document produced by Andrew Green QC will examined the reasonableness of a decision to fine and ban only one former HBOS manager.
Peter Cummings, who ran the bank’s corporate lending division, was fined £500,000 and banned for life from the industry in 2011.