Abbey calls in Big Five firms.

Abbey National has brought in auditors from Deloitte & Touche and advisors from PricewaterhouseCoopers to review its equity derivatives business after a report accused the bank of having inadequate controls and warned of huge losses. The report was commissioned by Abbey from the Reading University-based Risk Partnership but the bank said the allegations, which have been passed on to the Financial Services Authority, were ‘groundless.’

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