FSA publishes censure against HBOS

The FSA on 9 March 2012 published a Final Notice detailing findings and imposing a public censure in respect of HBOS’s Corporate Division, relating to failings in 2006-2008 in corporate lending practices and systems.

The case is significant in addressing direct lending policies in the run up to the credit crunch.

Javan Herberg QC acted for the Bank.