Regulators flex muscles as Co-op Bank placed under investigation

By Will Caiger-Smith
10 Jan 2014

The Prudential Regulation Authority and Financial Conduct Authority are to conduct an enforcement investigation into Co-operative Bank, considering the role of former senior managers in the bank’s deterioration, which led to its bondholder-driven rescue at the end of 2013.

The UK Treasury is also conducting its own independent review of the events leading up to the bank’s fall from grace. That review will not start until it is clear that it will not prejudice any actions that the regulators may take, and the PRA will work with ...

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