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Leading city banker criticises FSA

The FSA has met its most important foe yet with one of the leading banking figures in the city publicly criticising its legislation.


Sir Evelyn de Rothschild, head of investment bank NM Rothschild, is calling on the city to “stir itself” the Financial Times reports today.


He is worried about the FSA&#39s ability to intervene in the takeover panel, the body that polices hostile takeovers through a semi-voluntary code.


Sir Evelyn says “As far as I can see, the FSA has advanced no compelling reasons for the proposed extensions to its already significant armoury of powers.”


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