IoD: “PRA/FCA report on HBOS demonstrates that when directors fail, companies fail”
The Institute of Directors has stated that the publication of the Prudential Regulation Authority/Financial Conduct Authority report into the failure of HBOS shows the importance of having experienced and strong company directors around the Boardroom table.
The detailed HBOS Group review was originally started by the former regulator, the Financial Services Authority (FSA). Its purpose was to analyse the causes of the firm’s failure, and to draw out lessons for the future for both the industry and the regulatory system as a whole.
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