No further action against HBOS senior managers

PRA and FCA have finished their investigations into certain former senior managers at HBOS in relation to its 2008 failure. The regulators started the investigations in 2016 following the Green report on the scope of the then FSA’s enforcement investigations into the bank’s failure.

In 2012, the then FSA took published enforcement action against Bank of Scotland and the CEO of HBOS’ corporate division. Since then the regulators have now looked at whether each relevant individual was fit and proper and have determined that no further action will be taken.