The City watchdog has been accused of "serious misjudgment" in its failure to step in and block Royal Bank of Scotland's disastrous takeover of Dutch rival ABM Amro.
A report by MPs on the Treasury Select Committee slammed the Financial Services Authority (FSA) for the part it played in the failure of RBS, which saw the taxpayer stump up £45.5 billion to prevent it from collapse.
The committee said the FSA's biggest fault was not intervening to stop the "calamitous" near-£50 billion ABN takeover and is urging the Government to legislate to ensure the regulator is explicitly required to approve major bank acquisitions to prevent a repeat of the fateful deal.
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One story dominates Thursday's front pages with some newspapers printing emotive pleas to voters to keep the United Kingdom as one.
After a mild start temperatures should pick up, with the south of England seeing highs of 26C.
In Edinburgh tonight you can hear it and feel it. The buzz, the banter of the day and the thrilling sense something big is coming tomorrow.