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.”
Will Peakin
Beginning as a reporter on weekly newspapers in the North-East of England, Will moved to Glasgow and worked as a freelance for a number of UK national newspapers. In 1990 he was appointed News Editor of Scotland on Sunday and in 1995, Scotland Editor of The Sunday Times. In 1999, he and his family moved to the south-west of France where he wrote for The Sunday Times Magazine. Returning to Scotland in 2002, he was Assistant Editor (Features) and Deputy Editor at The Scotsman before joining Holyrood Magazine in 2004. He writes for the magazine's business pages and edits its series of...