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UK Parliament: Failure of HBOS linked to “colossal failure of senior management and the Board”, says Banking Commission Report

( April 4, 2013, 23:05 GMT | Official Statement) -- MLex Summary: The Financial Services Authority failed to supervise HBOS properly, before the bank needed to be bailed out, the Parliamentary Commission on Banking Standards said. The report also criticized senior management in the bank and called for heavy sanctions in future cases to keep staff on their toes.The text of the statement follows. Click the attachments below to read the document. ...

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