HBOS trio could face City bans

Three former HBOS directors blamed for the banking group's collapse in a damning report may be banned for life as company directors. Business Secretary Vince Cable has ordered a probe to see if enough evidence can disqualify the trio.

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Report: Cable seeking City ban for ex-HBOS directors

(From left) Andy Hornby, Lord Stevenson and Sir James Crosby. Credit: PA

Business Secretary Vince Cable has requested evidence which could lead to a City ban for the three former HBOS bosses whose "toxic misjudgments" were blamed for the bank's 2008 collapse, BBC News has reported.

It claims Mr Cable was "outraged" at Friday's damning Parliamentary report and has begun "formal proceedings" which could see Andy Hornby, Lord Stevenson and Sir James Crosby disqualified as company directors.

The collapse of HBOS cost the taxpayer £20 billion.

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