• On Oct 16th 2013. Investigation was opened immediately
  • Individual was suspended for investigation into record management and keeping BOE’s rigorous internal controls
  • Investigation will look at all relevant employees in the individuals working line
  • Allegations came to BOE exec from credible member of the private sector and also a contact from the FCA
  • BOE was not asked to investigate any activities by the FCA between June and Oct 2013

He’s swerved the initial question on whether the BOE knew of any problems before they enacted their investigation in Oct/Nov 2013

  • Is not aware of any additional issues outside of their, or the FCA investigations
  • Intent on doing a thorough review