Britain’s banking regulators to not take action against former HBOS senior managers- BoE

By Thomson Reuters Aug 26, 2022 | 8:43 AM

(Reuters) – Britain’s two banking regulators on Friday concluded that they will not take any enforcement action against certain former unnamed senior managers at the collapsed bank HBOS, the Bank of England said in a statement.

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have now closed these investigations, the statement added.

HBOS, which traded under the brands Halifax and Bank of Scotland, had to be rescued in a government-engineered takeover by Lloyds in 2008, which subsequently needed a 20 billion pound taxpayer bailout of its own.

($1 = 0.8425 pounds)

(Reporting by Hazra Nivedita in Bengaluru; editing by David Evans)