Consumer panel responds to Northern Rock review

The panel congratulated the FSA for acknowledging its shortcomings, but argued that independent auditors could have provided a valuable wider perspective.

Panel chairman John Howard commented: "The FSA concludes that even if supervision had been acceptable it was by no means the case that that would have changed the outcome.

“This suggests to me that the events surrounding the failure of Northern Rock, including the sudden collapse in credit markets, were testing the limits of regulation anyway

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: