MPs hold FSA talks over Keydata payouts

Norman Lamb, Chloe Smith, Elizabeth Truss and George Freeman yesterday met with representatives of the FSA to quiz the regulator on its role in the Keydata collapse. The group of MPs grilled Hector Sants about what officials at FSA knew and what the FSA did within its powers to protect investors. About 3,100 people put money in Lifemark-backed Keydata products on the advice of the Norwich and Peterborough Building Society (N&P) IFAs, and they fear their savings are lost after Keydata went into administration last year. Smith, Norwich North MP, says: "What has become clear is tha...