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Pressure to remove FSA right to immunity

Conservative MPs and prominent City figures have stepped up pressure on the Government to scrap plans giving the FSA immunity from prosecution reports the Financial Times.


The chief executive of the Futures and Options Association Anthony Bellchambers said the move would deprive firms on the receiving end of FSA negligence no comebacks.


Tory MP Andrew Tyrie has also added his support to the scrapping plans, despite the Tories reluctantly agreeing to allow the legislation for financial services and markets bill to proceed.


Tory shadow Treasury chief executive David Heathcoat-Amory says they have reluctantly let the bill pass to prevent damage to the market.

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