Treasury refutes involvement in Keydata rescue

A posting on the Keydata Victims Action Group site yesterday claimed the Treasury were considering involvement in the case, as the FSA failed to warn investors about "materially false claims" in Keydata's literature, despite being flagged on the issue as early as 2005. However a spokesman for the Treasury says it has no plans to pick up the lead from the FSA: "There is a structure and a process in place for dealing with Keydata. "The Treasury is taking a very arms length approach." The case for Treasury involvement centres on letters sent by senior executives of HSBC and KPMG to th...