MPs have asked the Prudential Regulation Authority (PRA) to launch an inquiry into whether Lloyds Banking Group executives covered up the extent of a business-lending scam at HBOS Reading which resulted in six convictions in 2017. The Prudential Regulation Authority has been asked by MPs to investigate whether Lloyds Banking Group bosses, including António Horta-Osório, its chief executive, breached corporate governance rules by allegedly “covering up” the HBOS Reading fraud. The RBS and Barclays probes are separate from those by the Financial Conduct Authority, which has been investigating allegations that traders manipulated Libor interest rates for years before it was revealed last year.
MPs have asked the Prudential Regulation Authority (PRA) to launch an inquiry into whether Lloyds Banking Group executives covered up the extent of a business-lending scam at HBOS Reading which resulted in six convictions in 2017. The RBS and Barclays probes are separate from those by the Financial Conduct Authority, which has been investigating allegations that traders manipulated Libor interest rates for years before it was revealed last year.