‘I com­plained to FCA about pay­out de­lay’

The Scottish Mail on Sunday - - Financial - Alex Hawkes

NOEL Ed­monds has re­ported Lloyds to the Fi­nan­cial Con­duct Author­ity over de­lays in the pay­ment of com­pen­sa­tion to vic­tims of the HBOS fraud.

The bank has ap­pointed Pro­fes­sor Rus­sel Griggs to look at each case and to de­cide on an ap­pro­pri­ate sum of com­pen­sa­tion.

Vic­tims have been crit­i­cal of the re­view process. They say £100mil­lion will not cover all the claims – and that the process is not fair or trans­par­ent.

Ed­monds said: ‘I asked for the Fi­nan­cial Con­duct Author­ity to in­ves­ti­gate the state­ment by Lloyds chair­man Lord Black­well at the time of the an­nual gen­eral meet­ing that vic­tims will be paid within weeks not months.’

He has writ­ten to An­drew Bai­ley, head of the watch­dog, to ask for an in­ves­ti­ga­tion of the re­view ‘and why it is be­ing con­ducted,’ Ed­monds said.

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