HBOS

The Financial Services Authority is considering major making 'radical changes' to its approved persons regime, according to a report in the Sunday Telegraph.

The former chief executive of HBOS sold off two-thirds of his personal stake in the bank's shares before the lender collapsed.

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.

SPECIAL REPORT

The past three years have been a tumultuous time for the financials sector, which has seen a phase of deleveraging, rights issues and balance sheet repair which continues to this day.

The Financial Services Authority's (FSA) report into the failure of HBOS is being delayed by a legal challenge from Peter Cummings, a former senior executive at the bank.

US shareholders in Lloyds at the time of its takeover of HBOS have launched lawsuits against the bank, its former chairman, Sir Victor Blank, and ex-chief executive Eric Daniels.

Lloyds Banking Group is back in the black for the first time since it was bailed out by the government, boosted by a record results in asset management arm SWIP.

The manager of the Murray Income trust is preparing to buy into non-UK assets after shareholders voted to diversify away from concentrated UK sectors earlier this year.

Eric Daniels, group chief executive of Lloyds Banking Group, has announced his retirement, giving the organisation one year to find a successor.