Co-op to look into inappropriate behaviour at group, bank

LONDON (Reuters) - The Co-operative Group said on Monday it had started a fact-finding process to look into any inappropriate behaviour at the group or its banking unit and would take action as necessary.

The former chairman of Britain's troubled Co-operative Bank has been filmed arranging to buy cocaine, the Mail on Sunday newspaper reported.

Co-op also said it had launched a "root and branch review of the democratic structure of the organisation".

"We need to modernise to ensure that the interests of all our 7 million members are properly and directly represented in the oversight of our business activities," Co-op Group said in a statement.

(Reporting by Matt Scuffham; Editing by Steve Slater)