The new City watchdog was last night fighting to defend its chairman amid accusations he enabled HBOS to pursue its reckless lending strategy.
John Griffith-Jones, the chairman of the Financial Conduct Authority, faces mounting calls to resign for giving HBOS a clean bill of health while chairing KPMG, the Daily Mail reports. The accountancy giant is also now facing a possible inquiry into its auditing of HBOS after accounting watchdog the Financial Reporting Council said it would ‘see whether there is a case for an investigation'. John Mann, Labour MP and member of the Treasury Select Committee, last night called for Griffith-Jones, pictured, to quit. He said: ‘He should absolutely resign. These grossly failed businessm...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes