The Treasury Select Committee has appointed specialist advisers to oversee the drafting of a report by the Financial Services Authority (FSA) into the causes of the failure of HBOS in 2008. In a letter to FSA chairman Lord Turner, Andrew Tyrie said that it required a “comprehensive assessment” of the regulatory body’s own conduct regarding the supervision of the banking group. Tyrie, who is chairman of the committee, said: “Work on the report should begin immediately. It must be comprehensive, covering the reasons for, and consequences of, both the Lloyds/HBOS merger and the earlier Bank of Scotland/Halifax merger....Read more here: Report on HBOS to consider regulator’s shortcomings