Governance standards in spotlight at central bank

Bank of England officials could be quizzed by MPS over new governance standards after deputy governor Charlotte Hogg was forced to resign for failing to declare her brother worked for Barclays.

Nicky Morgan, chair of the influential Treasury select committee, has hinted the Bank’s Court of Directors will be asked to give evidence on the lessons learned from the embarrassing saga, which saw Hogg step down just two weeks into her post.

It comes after the Bank said it would appoint a conflicts officer to pinpoint potential conflicts of interest after identifying “shortcomings” as part of a review. Sir Dave Ramsden was recently named as Hogg’s replacement.