Parliament's cross-party Treasury Select Committee, chaired by Andrew Tyrie, also said banks needed a regulator with the self-confidence to intervene, even if that caused short-term destabilisation.
As well as excluding this group, the problem was compounded when BOS incorrectly contacted 33,700 customers who should never have been included in the programme, and mistakenly made goodwill payments totalling £20.4 million to 22,700 of them.
Not enough time has been given by the European Insurance and Occupational Pensions Authority (EIOPA) to consider the amendments needed to its approach to implementing Solvency II, to make it fit for the purpose of the IORP review, say Mercer.
He has broad experience across a wide range of structured financings including asset backed commercial paper, structured financial instruments, securitisation, derivatives and financial regulation for clients including Cantor Fitzgerald, Macquarie and BNP
Adoboli, 32, faces two counts of fraud and two of false accounting, which he denies