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FCA bans former Co-op chair over sex and drugs messages

Paul Flowers used his company mobile to call premium-rate chat lines, FCA finds

FCA bans former Co-op chair over sex and drugs messages
Photo: Getty Images

The UK financial regulator has banned the former chairman of The Co-operative Bank from working in the industry, saying he is a threat to consumer and market confidence.

In a statement on Tuesday, the Financial Conduct Authority said Paul Flowers, who chaired the group between 2010 and 2013, used his work phone to call premium-rate chat lines and his work email to send and receive sexually explicit messages and discuss illegal drugs.

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