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A report by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) into the bank’s £20.5bn failure has caused renewed scrutiny of its former executives. Now the FCA and PRA are expected to examine whether there is evidence to launch an investigation into any of the bank’s former senior managers ‘with a view to prohibition proceedings’ following the publication of the review.
Instructed lawyers
Mr Hickman was group risk director at HBoS until it collapsed and is believed to have instructed lawyers to advise him on any potential investigation. Eight other former HBoS executives, including chairman Lord Stevenson, instructed Ashurst three years ago in relation to the fall-out of the collapse, with partners Edward Sparrow and David Capps leading. Source: The Lawyer
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