Tyrie says HBOS report must include review of FSA conduct

Andrew Tyrie, chairman of the TSC, has written to FSA chairman Lord Turner, telling him he expects the report to assess the regulator's own conduct and the reasons for the failure. As with a previous report into RBS, the TSC-appointed advisers will be responsible for ensuring the final text is a fair and balanced reflection of the evidence. Tyrie said: "Work on the report should begin immediately. It must be comprehensive, covering the reasons for, and consequences of, both the Lloyds/HBOS merger and the earlier Bank of Scotland/Halifax merger. "The public deserves to know exactly...