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Fresh HBOS inquiries hold no prospect of speedy judgment. (2015)

“The main consequence of the regulators’ costly and time-consuming inquiry into the £20.5bn collapse of HBOS is, wait for it: yet another costly and time-consuming inquiry.

Caroline Binham and Emma Dunkley, 19 November 2015.

About 10 former senior managers and board members of HBOS – among them former chief executives James Crosby and Andy Hornby, and former chairman Lord Stevenson – may now face a further investigation by City regulators, seven years after the bank was rescued by a merger with Lloyds Banking Group

“That is the principal recommendation of a 549-page report into the bank’s collapse at the height of the financial crisis.

“Even if (a decision to proceed( is speedy, any new investigation would take at least 18 months. And the worst that can happen is that these individuals are banned from holding financial positions.”

Access the full article here: Fresh HBOS inquiries hold no prospect of speedy judgment

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