The Financial Services Authority (FSA) has said it will not investigate the circumstances surrounding Rangers FC entering into administration.
It follows a call by Lord John McFall, the former chairman of the Westminster treasury select committee, for the FSA to examine the club’s collapse.
McFall told the BBC: “There’s lots of questions around here, there’s no specific answers so the case for a renewed investigation by the FSA is something that supporters and those with an interest in Rangers should be looking at as well.”
But a spokesman for the FSA said: “This is not within our remit.”
Rangers is not listed on the London Stock Exchange but instead on Plus, a London based stock exchange which provides UK and international companies with access to European capital.
A spokesperson for Plus said: “Plus would not want to comment on whether we are investigating anything or not.”