The FSA today says it is acting in the best interests of consumers following stinging criticism over its declaration Keydata Investment Solutions was insolvent.
A spokesperson says the regulator would not have called in administrators unless it believed it "the best course of action" for investors, adding the firm has not contested its decision. Earlier today the troubled structured products provider accused the FSA of failing to adequately explore "other routes out" for the company. Commentators have also expressed their shock and surprise at the suddenness of the FSA's actions. Yesterday, the regulator announced Keydata, a third-party plan manager with £2.8bn assets under management, was being placed in administration "on the grounds it is ...
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