HBOS Director GBP0.5m Fine and Ban
Published / Last Updated on 13/09/2012
HBOS Director £0.5m Fine and Ban.
The ban and fine was in connection with management failings, aggressive growth plans and staff incentives. In short, there was a failure in spans and controls resulting in serious failings and mis-selling on high value investments ultimately contributing to the failure of HBOS.
Our view
A serious fine for serious failings. That said, the FSA oversaw this and we are yet to see any heads roll for the regulator failing in its own duty to monitor and regulate. Bankers beware.
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