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IPA scrutiny 'reputational issue' - MHK

Beecroft to continue with Scottish Power questions

An MHK says she'll continue investigating how the Island's financial regulator acted in the Scottish Power cashback mis-selling scandal.

South Douglas member Kate Beecroft wanted the affair referred to the Public Accounts Committee - but narrowly lost a vote in Tynwald last week.

An Island-based insurance firm was behind the energy giant's warranty cashback scheme, which failed to pay out in 2002.

Mrs Beecroft has questioned whether the regulator - the Insurance and Pensions Authority, now the FSA - met its duty to protect more than 600,000 consumers.

A UK parliamentary committee has also raised concerns. 

Mrs Beecroft says successive governments have not gripped the issue - and that could tarnish the Island's reputation:

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