The government will not pass judgement on the Financial Services Authority's (FSA) role in Independent Insurance's collapse until the Serious Fraud Office (SFO) has completed its investigation into the fiasco.
Economic Secretary Ruth Kelly made this statement in response to questions from Barry Gardiner MP during an adjournment debate in the House of Commons this afternoon.
Gardiner had asked the government about the FSA's duty to regulate the insurer.
He previously queried KMPG's role, the FSA's relationship with Independent chief executive Michael Bright and Independent's reserves in parliament last week, but Kelly declined to answer while the SFO investigation was ongoing.
