MPs have asked the Prudential Regulation Authority (PRA) to launch an inquiry into whether HBOS executives covered up the extent of a business-lending scam at HBOS Reading which resulted in six convictions in 2013 . The all-party parliamentary group on fair business banking wrote to Bank of England Governor Mark Carney asking which actions were being taken to ensure corporate governance rules were followed after Lloyds bosses apparently “withheld” from the board a 2017 report written by a risk officer detailing the extent of fraudulent business lending within HBOS .
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 all-party parliamentary group on fair business banking wrote to Bank of England Governor Mark Carney asking which actions were being taken to ensure corporate governance rules were followed after Lloyds bosses apparently “withheld” from the board a 2013 report written by a risk officer detailing the extent of fraudulent business lending within HBOS.