FCA bans ex-Co-op Bank chair Flowers; Treasury launches review into bank's collapse

'Lack of integrity'

The Financial Conduct Authority (FCA) has banned Paul Flowers, former chair of Co-operative Bank (Co-op Bank), from the financial services industry after he was found to be making "inappropriate" calls to premium chat lines and sending "sexually explicit" emails during his tenure.

The regulator found between 15 April 2010 and 5 June 2013 Flowers' conduct "demonstrated a lack of fitness and propriety required to work in financial services". He was deputy chair of the Co-op Group and chair Co-op Bank. Between the above dates he was found to have: • used his work mobile phone to make inappropriate telephone calls to a premium rate chat line in breach of Co-op Group and Co-op Bank policies • used his work email account to send and receive sexually explicit and otherwise inappropriate messages, and to discuss illegal drugs, in breach of Co-op Group and Co-op Bank...