The FSA has published a short statement setting out its initial response to the Scottish Affairs Committee Report on Dunfermline Building Society. In the response the FSA firmly rejects the Scottish Affairs Committee’s conclusion that the FSA failed in its supervision of Dunfermline Building Society and failed to issue specific warnings regarding the dangers of commercial lending.  

The FSA has already published full details of the specific actions it took, in a letter to the Chancellor of the Exchequer on 17 April 2009.  

View FSA’s initial response to the Scottish Affairs Committee Report on Dunfermline Building Society, 30 July 2009