The FSA has appointed an internal investigator to look into Berkeley Berry Birch's winding-up of its Berry Birch & Noble Financial Services subsidiary.
In April BBB announced that the FSA was to review the winding-up of BBNFS, which has left potential future liabilities to be met by the Financial Services Compensation Scheme.
A statement from BBB says: “The FSA has appointed investigators. They have informed us that the appointment of investigators does not mean they have determined that rule breaches and/or contravention's have occurred. There remains no definitive timeframe for this process, though BBB continues to work closely with the FSA.”