23 Nov 2018
A senior lawmaker has demanded an investigation into the way the chief executive of Lloyds Banking Group (LLOY.L) handled information related to one of Britain’s biggest fraud cases.
Kevin Hollinrake, the chairman of the parliamentary group for banking, said on Wednesday he had notified Lloyds CEO Antonio Horta-Osorio that he had written to the Financial Conduct Authority (FCA) about the case involving the Reading unit of HBOS, which Lloyds acquired in 2009.
He said he had asked the regulator “to open an investigation of these events under the Senior Managers and Certification Regime,” a set of powers brought in after the financial crisis to better police the conduct of executives.
– By Iain Withers, Reuters, 21 November 2018.
Link to Reuters.
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