//
According to the Times, the body has begun an investigation into the conduct of Mr Ross, whose use of company shares as security on borrowing has forced him to resign from positions at Carphone Warehouse and National Express.
Stock market rules dictate that any director of a listed company must receive clearance from the firm before dealing in its shares.
As the regulator of the market, the FSA must examine any possible breaches - and so it has become involved in the case.
In addition to stepping down from his roles at Carphone Warehouse and National Express, Mr Ross has also quit his post on the board of the London organising committee of the Olympic Games.
Take trader training with Knowledge to Action.
