Hector Sants admitted the FSA should have 'stepped in earlier in the past' to prevent the mis-selling scandals that have hit British consumers Photo: justin sutcliffe At its heart, Mr Sants' speech, which was trailed earlier in the day by an interview on the BBC's Today programme, was an apology for the FSA's failings up to and during the financial crisis, and a plea for a stay of execution should the Conservatives, who have repeatedly said they will disband the organisation, win the upcoming election. In the Today interview, Mr Sants admitted the FSA should have "stepped in earlier in the past" to prevent and mitigate the mis-selling scandals that have cost British consumers billions of pounds. "I think at the end of the day you'd have to say the results were not acceptable to society and therefore it is right that we should change and step in earlier," said Mr Sants. Speaking in Oxford later, Mr Sants said the FSA needed to help "restore trust". "At the heart of the challenge is the need to restore trust," he said.[Read more...]