October 28, 2004
FSA helped set up Marsh inquiry
THE Financial Services Authority (FSA) helped to set the terms of Marsh & McLennan’s £450,000 investigation into corruption in its UK business, four months before the City watchdog formally begins regulating the insurance industry, The Times has learnt.
The revelation indicates that the FSA is more concerned about market-rigging allegations made against insurance brokers by Eliot Spitzer, the New York attorney-general, than it has admitted.
Posted by Tom Troceen