Home > business > Crosby quits FSA as bankers grilled over pay

Crosby quits FSA as bankers grilled over pay

A top financial regulator accused of ignoring risk warnings quit on Wednesday as politicians grilled leading bankers over the integrity of the financial system and the size of their pay packets.

James Crosby, the former chief executive of HBOS and advisor to Prime Minister Gordon Brown, stepped down as deputy chairman of the Financial Services Authority (FSA), saying allegations he ignored risk warnings while at HBOS had already been investigated and had no merit.

“I am totally confident that there is no substance to any of the allegations,” Crosby said in an email sent to Reuters.

complete article @ Reuters

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