FSA report on HBOS collapse faces 'long delay'

The paper said the report was started after the FSA fined Peter Cummings half a million pounds and banned him from the City for life. It added while considerable information had been gathered senior figures said the breadth of data required meant it would not be finished for months. HBOS was rescued by Lloyds Banking Group, in a deal which lead to it asking the government for  £20bn bailout from the taxpayer, the Independent said.