FSA to Start Work on HBOS Report

The Financial Services Authority has confirmed that all enforcement proceedings in relation to the failure of HBOS are now complete. Consequently, the regulator is set to start work on a report which will seek to examine the reasons for the group's failings and its subsequent bailout by the UK taxpayer.

This announcement follows the fining and banning of former HBOS executive Peter Cummings for management failings. Link here for a copy of that action.