Keydata investors renew calls for Parliamentary inquiry into scheme's collapse

A group of Lifemark-backed Keydata bond investors are renewing their efforts to organise a public inquiry into the collapse of the investment scheme nearly five years ago, by lobbying their MPs to act.

Keydata was put into administration by the then regulator the Financial Services Authority (FSA) in June 2009 due to liquidity problems after about £300m had been invested in second-hand traded life policies. The Lifemark Bondholder's Action group wants a formal investigation into what they call the "clumsy" way the FSA handled the failure. Peter Hilton, an investor and the group's leader, is calling on investors to write to their MPs to "remind them of the Keydata affair and the effect it has had on you". "After four and a half years we have no answers as to why the FSA went about...