FSA may not publish HBOS and B&B investigations
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The Financial Services Authority will not publish the results of its investigations into HBOS and Bradford & Bingley unless it finds any wrongdoing.
The FSA says it is standard policy not to comment on individual firms unless there is an enforcement action.
Last week the Royal Bank of Scotland was cleared of any wrongdoing after the regulator investigated its near collapse in 2008.
It says its supervisory reviews into the banks were continuing but says it might never make any pronouncements on the matter.
A spokeswoman for the FSA says: “We do not comment on individual firms and we wouldn’t want to preempt what could happen in the investigation.”
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Readers' comments (2)
Dazed & Confused | 7 Dec 2010 12:02 pm
Why am I not overly surprised at this announcement?
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Steve | 9 Dec 2010 10:33 am
Who is undertaking a reveiw of the FSA's failures. Of course they found no wrong doing by RBS or their own part in this fiasco. What is the point in wasting more money when it is obvious no one will be held accountable. It was during this period that the FSA and banks wanted brokers to take more responsibility aka blame for what has gone wrong. Now the preverbial has hit the fan brokers are to be sidelined as this is no longer a valid tactic. The facts speak for themselves but it is obvious the FSA refuses to acknowledge this. They have a hidden agenda yet to come to the fore. Most likely self preservation at any cost.
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