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Wednesday, November 02, 2016

Co-op Bank’s Former CFO and CEO Fined

As per AccountingWeb, the former chief financial officer of the Co-op Bank has admitted misconduct in a settlement with the FRC the accounting regulator, and agreed to a fine and exclusion from his accountancy body.
Barry Tootell, Co-op bank’s former CFO and CEO, admitted the wrongdoing as part of a settlement with the Financial Reporting Council (FRC), and agreed to exclusion from membership of any accountancy body for six years and a £20,000 payment towards the FRC’s legal fees.

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