Bloomberg News

U.K. Banks May Face FSA Probe of Rate-Swap Sales, Telegraph Says

May 06, 2012

U.K. banks may face an investigation by the Financial Services Authority into the alleged mis-selling of interest rate swaps to small businesses, the Sunday Telegraph reported, citing an unidentified spokesman for the regulator.

The FSA completed an initial investigation last week and ordered the banks to provide more information before a decision likely to be made in June, the newspaper said.

To contact the reporter on this story: Thomas Biesheuvel in London at tbiesheuvel@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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