Financial regulators have begun an investigation into the troubled Co-operative Bank.
The Bank of England's Prudential Regulation Authority (PRA) said that its investigation would consider the role of former senior managers. Regulators had been looking at whether there should be a probe, following the bank's near-collapse and revelations about former chairman Paul Flowers. The PRA can impose fines and other sanctions if it uncovers wrongdoing. Co-op Bank was rescued last year under a deal with its bondholders, following disclosure that it faced a £1.5bn black hole. The PRA said that it was "undertaking an enforcement investigation in relation to the Co-operative Bank and as part of that investigation will consider the role of former senior managers..........Read more here