Andrew Green

They’re expected to do all of this with a shoestring budget, and so, this is a wakeup call, potentially, that cities need to start looking at how seriously they’re taking their own cybersecurity posture.

They’re in a no-win situation, they’re gonna end up choosing what is the least painful of all bad solutions. There is no good solution to this. They’re gonna get criticized if they pay. They’re gonna get criticized if they don’t pay.

In the circumstances where you have the CEO of a systemically important bank that fails - and is failing across multiple areas ... it seems it's pretty obvious and in the public interest that he should have been investigated in early 2009.

From the moment this (HBOS) went wrong, and the moment when enforcement action was being considered, because of the richness of information on Peter Cummings he was the only person who was really considered.

It will still be necessary to establish personal culpability. I think establishing personal culpability will always be a very big ask when you are dealing with senior bankers.