FCA commits to 2014 long-stop investigation

The move was revealed during a House of Lords debate on the Financial Services Bill yesterday. Lord Sassoon told Peers he had pressed the Financial Services Authority (FSA) after an amendment addressing the issue was attached to the Bill by Lord Flight. Sassoon said the watchdog had given a "rather unspecific commitment" on the necessity of a long-stop to members of the Treasury Select Committee in November 2011 but nothing had been finalised. He said: "When the FSA last looked at the issue in 2007, it said that to introduce a time bar, it would need to be clear that the potential ...