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MP Seeks FCA Probe Into Lloyds Whistleblower Case

Law360, London (November 22, 2018, 12:58 PM GMT) -- A senior MP is to call on the Financial Conduct Authority to scrutinize the way senior management at Lloyds Banking Group PLC handled information about a massive fraud at HBOS PLC following its takeover in 2008.

Kevin Hollinrake, chairman of the all-party parliamentary group for fair business banking, said he has written to the City watchdog demanding an investigation into an estimated £245 million ($315 million) loan scam at a branch of HBOS that wrecked vulnerable companies in the run-up to the financial crisis.

“I will…write to the FCA on this matter to ask them to open an investigation of these events...

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