Category: Financial Conduct Authority

Too little, too late! FCA report fails to say if it has closed the stable door

 

It is seven years since the collapse of HBOS – the second largest collapse in British banking history (after RBS) and one which cost the UK taxpayer £20 billion, Lloyds and former HBOS shareholders £54 billion and 40,000 bank employees their jobs.

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HBOS report next week: Cross fingers for justice, but don’t hold your breath

 

Looking back I discover it is almost exactly a year ago that I wrote that the extremely tardy official report into the collapse of HBOS would be published “early in the New Year.”

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Do Stevenson and Hornby hold a “Get out of Jail Free” card?

I’m told the extremely tardy official report into the collapse of HBOS will be published early in the New Year and will contain criticism of the former chairman, Lord Stevenson, and chief executive, Andy Hornby. Whether it also imposes sanctions is another matter.  

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Justice delayed — and justice denied

Could the HBOS three finally get an official slap on the wrist for losing £54 billion, forcing the Government to rescue the bank and impoverishing millions of bank employees and small shareholders?

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