FSA bans former HBOS chief and fines him £500k

The Financial Services Authority (FSA) has banned former HBOS executive Peter Cummings and fined him £500,000 for failings within the company's corporate division.

It said that, between January 2006 and March 2008, Cummings failed to exercise due skill, care and diligence by pursuing an aggressive expansion strategy within the corporate division, without suitable...

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