Stewart Ford's application for a judicial review into the FSA's handling of Keydata has delayed the regulator's investigation into the investment firm, the FSA said today.
'Since Keydata was put into administration we have discovered considerable amounts of new information," said an FSA statement.
"Our investigation is at an advanced stage, however, our disciplinary process is currently being delayed as a result of judicial review proceedings being brought by Mr Ford."
Ford has maintained the FSA made a "£450m cock-up" when it put Keydata into administration in 2009, and is expected to repeat the claims at the hearing in London.
The hearing will be held in the High Court in July.
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