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Treasury officials regularly accepted invitations to lavish dinners with lobbyists for banks that were being investigated for market rigging, a new report has found.

The explosive research, which was conducted by the National Audit Office (NAO), was published on Tuesday.

It reveals that banking lobby the British Bankers’ Association was a frequent provider of hospitality to senior Treasury officials, despite the fact some of its members were being investigated by UK authorities for market rigging.

Arms manufacturer BAE Systems and auditing giants Deloitte and PricewaterhouseCoopers (PwC) were also frequent providers of gifts and hospitality. Because each of these organizations supply services to government, the NAO said such patterns of gift giving could create conflicts of interest.

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