FSA unlikely to launch Spitzer style investigation, say reports

The FSA is unlikely to pursue the New York attorney general's probe into anti-competitive practices in the UK, reports said today.

The authority was reported to be closely monitoring developments in Eliot Spitzer's investigation.

It was speculated that it could launch its own Spitzer style investigation when it assumed regulatory authority over the industry.

According to reports it is likely that an investigation has now been ruled out by the FSA.

However, reports said the industry watchdog would be closely watching the compliance of brokers and insurers with its rules on anti-competitive practices.