FSA to admit errors but no Rock director probe - papers 25 Mar

An internal review will detail faults, including putting insufficient pressure on the Rock board, and make recommendations on improving the monitoring of banks. However, sources said it was unlikely to call for a probe into the conduct of Northern Rock directors or share sales by the then chief executive of the bank, Adam Applegarth. MPs have criticised the Government for allowing the FSA to investigate itself. But John McFall, chairman of the Treasury Select Committee, said yesterday: "In our report, the FSA was seen to be very much at fault in supervising the bank. However, I am conte...