FSA grilled over delayed FSCS review
The All Party Group on Insurance and Financial Services has expressed its disappointment that the regulator could miss the deadline for its review of the Financial Services Compensation Scheme (FSCS).
When grilling head of conduct Sheila Nicoll, Jonathan Evans MP cited the Insurance Age exclusive on the cost the postponed review and demanded to know the rationale behind postponement.
He said that the regulator had started work on the project in 2009 of its own volition but after three years it had failed to get anywhere near completion despite spending three quarters of a million pounds on it.
Ms Nicolls responded by saying that the FSA's examination had been put on hold due to prospective
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