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HBOSHalifax Bank of Scotland
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It states that former directors at HBOS and certain senior executives have committed serious breaches of regulatory rules, including of a criminal nature.
Daniels, plus four other Lloyds' bigwigs, are accused of keeping investors "in the dark" about the perilous state of HBOS's finances.
HBOS were crippled by the seizure of the wholesale funding market on which they relied to fund their lending.
Opening submissions are set to be given at the Royal Courts of Justice tomorrow, marking the start of a 14-week trial brought by the Lloyds/ HBOS Shareholder Action Group.
The UK's Financial Reporting Council (FRC) has said that it is ending its probe on accountancy firm KPMG's audit of lender, HBOS.
City watchdogs will look at taking potential further action against former HBOS senior management - including ex-chief executives Andy Hornby and James Crosby, as well as past chairman Lord Stevenson - after a report by barrister Andrew Green blasted former regulators for failing to investigate a raft of executives.
It was reported on Thursday that as many as ten former HBOS executives could be investigated and may be banned from working in the banking industry.
The Bank of England on Friday revealed that the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have publish the detailed Terms of Reference (ToR) for the review into the failure of HBOS plc (HBOS).
Crosby asked to rescind his knighthood after a damning report by the Banking Standards Commission accused him and other HBOS executives of a "colossal failure" over the bank's collapse during the financial crisis.
The Financial Reporting Council (FRC) confirmed it would consider launching an investigation of KPMG's role following last week's damning Parliamentary Commission report on HBOS.
Commenting on the publication of its Fourth Report, the Chairman of the Parliamentary Commission on Banking Standards, Andrew Tyrie MP, said, "The HBOS story is one of catastrophic failures of management, governance and regulatory oversight."
Mr Justice Peter Smith hit out at HBOS, who were heard in evidence to have called savers' cash "Doris money", a snooty reference laced with disdain for the hard-working people who handed over their money in good faith.