The Co-op’s purchase of 630 Lloyds Banking Group branches could be under threat if it does not make changes.
The Financial Services Authority (FSA) has ordered the Co-op to prepare a radical new regulated structure at the parent group. This could mean having to provide up to £3bn of capital at group level and revamping the board so there are people with FSA-approved banking experience. The Co-op said it was working with Lloyds and the FSA on a range of issues on which it was making good progress.
04/03/12 Sunday Telegraph B1
