The FSA has been accused of refusing to release key documents relating to the collapse of Icelandic bank Kaupthing to the Serious Fraud Office (SFO) because of fears they will expose regulatory failings.
In a Daily Mail report, an SFO source criticises the regulator for only appearing to co-operate with the fraud office criminal investigation launched in December last year. The source claims the FSA fears the release of supervisory documents linked to Kaupthing could expose an embarrassing culture of lax regulation at the watchdog. "It has used official language to show that on the surface it is fully cooperating but the reality is it is refusing to release key documents", they say. The SFO has denied there are tensions with the regulator and says it is on course to deliver a decis...
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