But a parliamentary committee said in a report that it found Ms. Hogg’s professional competence “falls short of the very high standards” required to be deputy governor, adding<br />that her failure to disclose her brother’s role was a “serious error of judgment.”<br />Mr. Carney said on Tuesday that he deeply regretted Ms. Hogg’s decision to resign, saying in a statement<br />that she had “transformed” its management and operations.<br />But it said that her conduct was “more serious” than a simple omission given the length of time before it was disclosed, her role in helping to draft the central bank’s code of conduct<br />and her “failure to appreciate the seriousness of that history of noncompliance.”<br />Ms. Hogg initially declared her brother’s role at Barclays in a questionnaire submitted to the Treasury Committee on Feb. 22.<br />Bank of England Official Resigns After Critical Parliament Report -<br />By CHAD BRAYMARCH 14, 2017<br />LONDON — A senior Bank of England official who had been named a deputy governor at the central bank has resigned after a Parliament committee found<br />that her failure to disclose a potential conflict of interest showed she lacked the competence to take on a new role overseeing banks and financial markets.<br />While praising improvements in the central bank’s transparency, accountability and governance, the Treasury Committee said<br />that the incident involving Ms. Hogg raised “wider concerns” about the bank’s governance and that further reform may be needed.<br />In the case of Ms. Hogg, the Treasury Committee said<br />that she did not deliberately conceal her brother’s role as director in group strategy at Barclays or that any prior conflict had arisen.
