The Bank of England will examine barring executives over the 2008 near-collapse of mortgage lender HBOS at the height of the global financial crisis.
A long-delayed report into the collapse of the U.K. lender has opened the door for regulators to re-examine executives' roles.
Andy Hornby and James Crosby, former chief executives of the bank who presided over an aggressive growth strategy which brought it to a near-disastrous collapse in 2008, and its former chairman, Lord Stevenson, have never been penalized over the failure. The bank was bought up by another U.K. bank, Lloyds,
The lawyer behind one of the reports said regulators should consider whether or not to take further action against Hornby, currently chief operating officer at Gala Coral, the gambling company.
Ultimate responsibility for the failure of HBOS rests with its Board" the regulators said in the report.
The Bank of England confirmed it was considering "further enforcement action" and will make a decision "as early as possible next year."
"HBOS was at root a simple bank that nonetheless managed to create a big problem," Andrew Bailey, deputy Governor of the BoE, said in a statement.