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MPs' Libor report scathing

The influential Treasury Select Committee has concluded ex-Barclays boss Bob Diamond was "highly selective" when he gave evidence to MPs on the Libor fixing scandal, and criticised the Bank of England and the FSA for their "failings" on the matter.

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FSA: 'We will study the report's findings'

We welcome the committee's report and their view that the new judgement led approach to regulation being delivered by the FSA is the right one. The FSA has already put in place a number of reforms in recent years including a tougher fines policy for enforcement cases and a completely new model of bank supervision. We will study the report's findings and Martin Wheatley will consider it as part of his Libor review.

– The Financial Services Authority

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