Peter Cummings: "I have been.. subjected to an extraordinary Orwellian process”

Business quote of the day.

HBOS headquarters. Photograph, Getty Images.
HBOS headquarters. Photograph, Getty Images.

For the past three and a half years I have been singled out and subjected to an extraordinary Orwellian process by an organisation that acts as lawmaker, judge, jury, appeal court and executioner.

Former HBOS director Peter Cummings hits back at the Financial Services Authority after being fined £500,000 and banned from holding any senior position in a UK bank, building society, investment or insurance firm. Cummings said he was  the victim of “tokenism” after being subjected to the largest fine ever imposed on a senior executive for management failings.

Helen Roxburgh is the online editor of economia.