The Dame Linda Dobbs Review
Dame Linda Dobbs DBE has been appointed by Lloyds Banking Group ("LBG") to consider whether the issues relating to HBOS Reading were investigated and appropriately reported to authorities at the time by LBG, following its acquisition of HBOS.
The independent legal assessment will cover the period following HBOS’s acquisition by LBG, in January 2009, through to the conclusion of criminal proceedings commenced against six individuals in connection with the HBOS Reading fraud. In addition, the Review will examine relevant evidence from before 2009 in order to assess what LBG knew or should reasonably have known about what happened at HBOS Reading by the time of the acquisition.
Dame Linda's appointment was announced by LBG on 26 April 2017. LBG's announcement is available here.
A message from Dame Linda Dobbs to Witnesses – September 2025
Considerable progress has been made since my last update. We have now concluded all of our oral and written interviews with witnesses. This means that the evidence gathering is now all but complete, save for a limited number of follow-up questions to a handful of witnesses who have been engaging with the Review.
The drafting of the Report is also well underway, but there is still a considerable amount of analysis left to do in order to reach my final conclusions and natural justice may require that a Maxwellisation process is undertaken before my Report can be completed.
We have encountered many unexpected obstacles which have affected the timing of the Review. They will be detailed in my Report. However, I can assure you that my team and I are putting every effort into concluding our work and delivering my Report to the board of Lloyds Banking Group as soon as we can.
I have explained at some length in previous updates the reasons why my Review has taken a substantial time. That this is little consolation to HBOS Reading victims is not lost on me. When I agreed to take on this Review, I did so in the firm belief that they deserve comprehensive answers about Lloyds Banking Group’s handling of the fraud at HBOS Reading.
I do not propose to repeat in detail what I’ve said before about the timing, but I do want to clarify one issue. It is important to understand that any financial compensation to which victims are entitled is being handled by separate processes put in train by the bank. The Dobbs Review has no bearing on any aspect of that compensation process: neither who is entitled, the timing, nor the quantum.
Finally, I want to address the question that has frequently been raised about whether my Review will be published. I have always made clear that I favour transparency. However, this decision is not mine to make. I have made it clear from the outset that publication is a matter for Lloyds Banking Group.
Dame Linda Dobbs
Scope of the Review
Dame Linda will assess whether, between 19 January 2009 and 30 January 2017, information about issues relating to HBOS Reading which LBG knew, or should have known about through reasonable diligence, was properly investigated and appropriately reported to the relevant authorities. As part of this assessment, the Review will examine relevant evidence from before 2009 in order to assess what LBG knew or should reasonably have known about what happened at HBOS Reading by the time of the acquisition.
Further detail as to the Scope of the Review is available here.
Guide to the Review
To view a copy of the guide, click here.
Contact the Review
The Review welcomes comment and submissions from interested parties. Evidence or information relevant to the inquiry should be submitted directly via email to info@dobbsreview.com.
A copy of Dame Linda's announcement inviting submissions is available here.
Announcements
A message from Dame Linda Dobbs to Witnesses - May 2022 and previous messages can be found here.
NDAs and Confidentiality Agreements
LBG’s clear position is that anyone with relevant information can provide it to the Review. The confirmation letter is available here.
About Dame Linda Dobbs
Dame Linda was the first non-white High Court judge to be appointed in the UK and before that she was a leading barrister and QC, specializing in fraud and white collar crime cases. Her professional biography is available here.
Media enquiries
All media enquiries concerning the Review should be addressed to:
Peter Wilson-Smith +44 (0)20 7043 4604 or +44 (0)7979 526152
pws@meritusconsultants.com
Jimmy Chen +44 (0)20 7043 4606 or +44 (0)7787 492922
jchen@meritusconsultants.com