Long-awaited report into HBOS collapse release date set

Picture: Lorne Campbell / Guzelian'HBOS (Halifax Bank of Scotland) staff members outside the bank's distinctive  head offices in the centre of Halifax, West Yorkshire (Trinity Toad HQ) on Thursday 18 September 2008.'18.9.08
Picture: Lorne Campbell / Guzelian'HBOS (Halifax Bank of Scotland) staff members outside the bank's distinctive head offices in the centre of Halifax, West Yorkshire (Trinity Toad HQ) on Thursday 18 September 2008.'18.9.08
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WEST YORKSHIRE victims of the Halifax Bank of Scotland (HBOS) will next week find out how and why the financial institution collapsed leaving hundreds of people out of work.

The Bank of England’s two regulators, the PRA and the FCA, have announced that their review into the bank’s failure will be released at noon on November 19.

To coincide with the report, Huddersfield MP Barry Sheerman and HBOS whistleblower Paul Moore are calling on all those affected to come together to share their experiences.

Mr Moore, who lives in North Yorkshire, was fired from his job as Head of Group Regulatory Risk after warning his bosses about their sales tactics.

He said: “I am so very pleased indeed to hear that the HBOS Report will finally be published next Thursday. But, it’s no good having a report, if it doesn’t do the job properly.

“So, let’s hope that it’s not a cover-up, or a fudge, like so many other reports that we have seen in the past.”

He hopes the report makes clear who is responsible for HBOS’s demise and that they are held responsible for their wrongdoings.

Action also needs to be taken to prevent any repeat of the financial meltdown that brought the economy to its knees, he said.

“This whole tragic saga isn’t just about what happened to me as an individual at HBOS.

“It’s about the regional and global misery and suffering that has followed the worst financial crisis in our history and how we are going to campaign to ensure that it never happens again,” he said.

“It would be great to meet as many people as possible at the event in Huddersfield who have been affected by the disaster that took place at HBOS.

“It will be one of the first chances for people to discuss the findings of the regulators’ report and what needs to happen following its long-awaited publication.”

Last week Mr Moore released his book Crash Bank Wallop in London and will hold a second launch during the event in Huddersfield on November 20.

Labour MP Mr Sheerman, who is hosting the event which runs from 6pm-8pm, said: “We know that at least 40,000 jobs have gone since the collapse of HBOS and many of those have been in Yorkshire.

“This fails to take into account the knock-on impact to local economies and the tremendous suffering brought to families as a result.

“Added to that are the huge numbers of individual HBOS shareholders who have lost out, some losing their life savings, and also the tens of thousands of people who were victims of mis-selling, most notably PPI.”

To register your interest in attending the event, which will be held at Huddersfield Methodist Mission, Huddersfield, on November 20, visit http://www.eventbrite.com/e/crash-bank-wallop-book-and-new-wilberforce-movement-launch-by-paul-moore-tickets-19379703214.

For more information about Paul Moore’s book visit www.crashbankwallop.co.uk.