A Parliamentary committee is expected to announce an inquiry into the Equitable Life debacle, including the role of the FSA.
The Treasury select committee is set to announce the inquiry at its first hearing of the year next Tuesday.
The committee has come under increasing pressure from MPs of all parties, consumer groups and industry observers to hold an inquiry.
Committee members of all parties have called for an inquiry. Labour MP Jim Cousins says: “The FSA's internal review does not go nearly far enough. I think the committee should look at the Equitable and I have conveyed that view to the chairman.”
LibDem MP Edward Davey says: “It is vital that the select committee introduce an urgent inquiry. I will be raising the need for it at the first available opportunity.”