Farrant under fire

Farrant under fire

A TOP City regulator was last night accused by a former colleague of "effectively killing" an inquiry into the copper fraud that cost Sumitomo, the Japanese bank, $2.6bn. Dan Simon, formerly director of investigations at the Securities and Futures Authority, told the BBC's Money Programme that the SFA, at that time led by Richard Farrant, now managing director of the Financial Services Authority, did not investigate with sufficient vigour.