UK regulators to reopen flawed HBOS investigation
Report critical of financial supervisors who failed to see problems developing or take proper enforcement action, and of bank managers who created a fatally flawed business model
UK regulators are to reopen an investigation of the board members associated with the collapse of HBOS, after a scathing report unearthed multiple failings by both regulators and the bank.
Published on November 19, the review into the failure of HBOS by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) attacks both the "flawed and unbalanced strategy" of the bank, and the "striking" failure of regulators at the time to take action. The FCA and PRA now plan to
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