The FSA has published a statement where it states that the specific allegations made by Paul Moore in December 2004 regarding the regulatory risk function at HBOS were fully investigated by KPMG and the FSA, which concluded that the changes made by HBOS were appropriate. This statement gives an account of the actions taken by the FSA in relation to concerns expressed in 2004 by Mr Moore, former head of Group Regulatory Risk at HBOS. It is focused on these specific concerns rather than providing a complete description of the regulatory relationship with HBOS.  

View FSA statement re: HBOS, 12 February 2009