The former chairman of Tenet Group has criticised the Financial Services Authority (FSA) over its ‘Kafkaesque' behaviour in blocking the company's finance director from obtaining a significant influence function (SIF).
Lord Hodgson, who resigned from Tenet earlier this year, told fellow peers last night, during a debate on the Financial Services Bill, about how Graeham Sampson, who joined the firm in April 2011, had been left in limbo by the regulator. Sampson was told he could not take up the position of finance director, although attempts by Lord Hodgson to find out why proved to be futile. "[The FSA] said it could not tell me as there was an investigation and it was confidential. I asked the FSA if it could tell him what he had done. "It said it could not do that either as it was confidential....
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