Independent inquiry into Co-op Bank ordered by Treasury
LONDON (Reuters) - Chancellor George Osborne ordered an independent inquiry into Co-op Bank on Friday, with regulators also considering enforcement action against the lender.
The investigation has been jointly agreed with the Prudential Regulation Authority and the Financial Conduct Authority, the Treasury said in a statement on Friday.
"It will be led by an independent person appointed by the regulators, with the approval of the Treasury," the finance ministry said.
The investigation won't start until it is clear it will not prejudice any actions the two regulators may take, it added.
(Reporting by Huw Jones and Matt Scuffham)
- Tweet this
- Share this
- Digg this
- Nationalists push for Irish unity vote after 'inspiring' Scottish referendum
- India gets its first transgender TV news anchor - newspaper
- More Ukrainian soldiers killed, Poroshenko defends peace plan
- Cameron shifts tack on constitutional shake-up to mollify Scots
- Nonplussed Lampard rewrites his Chelsea story with City goal