Extract from Westminster Hall debate on HBOS Reading: Independent Review - Dec 18
Wednesday, 19 December 2018 08:25
Martin Whitfield (East Lothian) (Lab):...That still leaves some
important questions. Where are the regulators and the investigative
agencies in that? The Financial Conduct Authority, the Serious
Fraud Office and others seem comfortable to simply outsource their
regulatory responsibilities to the organisations being
investigated. In a recent letter to the hon. Member for Thirsk and
Malton, the director of the SFO, Lisa Osofsky, stated that it would
not be appropriate for the SFO to comment on...Request free trial
(East Lothian)
(Lab):...That still leaves some important questions. Where
are the regulators and the investigative agencies in that? The
Financial Conduct Authority, the Serious Fraud Office and others
seem comfortable to simply outsource their regulatory
responsibilities to the organisations being investigated. In a
recent letter to the hon. Member for Thirsk and Malton, the
director of the SFO, Lisa Osofsky, stated that it would not be
appropriate for the SFO to comment on those matters, given the work
that is currently being undertaken by the National Crime Agency and the Dobbs review.
It cannot be acceptable that the organisations responsible for
investigating fraud at the highest level are content to allow the
bank that is under investigation to set the parameters and scope of
their investigations. That cannot be right...
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