Pressure is mounting on the accountancy watchdog to launch an investigation into the role of KPMG and former bank executives in the collapse of HBOS.
Former HBOS bosses who will be heavily criticised this week over their role in the bank’s near-collapse are likely to escape fines because regulators’ report into the matter took so long to complete.
The City of London’s status as a favourite place for the world’s dishonest officials to hide stolen money will remain a stain on the UK’s reputation, despite a long-awaited government anti-corruption plan expected on Monday , according to a formerregulator who is now an MP.
The chairman and three other board members of the Financial Conduct Authority faced calls to quit on Thursday because of conflicts of interest related to the ongoing investigation into the collapse of HBOS.
Total fines issued by the Financial Conduct Authority have fallen in the first half of 2014 compared with the same period of 2013.
City regulators have been forced to reduce a £3.6m fine for rigging Libor imposed on City broking house RP Martin because the broker said it faced collapse if it had to pay the full sum demanded.
The Financial Conduct Authority has published details of warning notices against two bankers over the rigging of the Libor interbank lending rate.