The Financial Services Authority is conducting an internal report into the
lessons that should be learned following its former assessments of Northern
The FSA admitted mistakes were made on its behalf, among them were that full
reviews only took place once every three years with chief executive of the FSA,
Hector Sants, saying this is way too long.
Sants commissioned Rosemary Hilary, the director of internal audit to conduct
the review between the the dates of January 2005 and August 2007.
Bob Bennett the former finance director at Northern Rock has said that the
management was partially to blame for its fate.
Hilary will present the report to the FSA board on Thursday with comparisons
from other ‘high-impact firms’.
The FSA is to regulate the Newcastle based lender even though it has now been
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies