FCA takes action against former Co-op Bank directors - reports

In the wake of the bank's £1.5bn capital shortfall, the Financial Conduct Authority (FCA) is investigating whether there is enough evidence to take action against former directors, including Rev. Paul Flowers, the ex-chairman, according to the Telegraph. The action could lead to lifetime City bans or sizeable fines were any wrongdoing to be proven. The regulator, led by chief executive Martin Wheatley, (pictured) is believed to be focusing on the actions of individuals in the run-up to the shortfall being uncovered in June 2013. Central to the probe is whether there were any regula...