Financial regulators should consider banning three top HBOS bankers from future roles in the financial sector, an influential committee has said. The Banking Standards Commission said former bosses Sir James Crosby, Andy Hornby and Lord Stevenson were largely to blame for the bank's collapse. It accused them of a "colossal failure" of management. HBOS, then the UK's fifth biggest bank, had to be rescued by taxpayers and Lloyds bank in 2008. There has so far been no response from the three men to the findings. The Banking Standards Commission was set up to improve the UK's banking system following the 2008 financial crisis. Its members are MPs, members of the House of Lords and the Archbishop of Canterbury. Now-defunct City regulator the Financial Services Authority (FSA) also came in for criticism, with the commission saying it was "unsatisfactory" that the watchdog appeared "to have taken no steps to establish whether the former leaders of HBOS are fit and proper persons to hold the approved persons status elsewhere in the UK financial sector".....Read more here