Statement on Co-operative Bank enforcement investigation

The Financial Conduct Authority (FCA) has confirmed it will be undertaking enforcement investigations into events at the Co-operative Bank.

The investigation will look at the decisions and events up to June 2013.

The independent review announced by the Chancellor will commence once it is clear that it will not prejudice any actions that the regulators may take. This sequencing is necessary to ensure that the outcomes of the enforcement work are not prejudiced and follows the approach taken for both the RBS and HBOS reports.