The FSA review only covers mis-selling by the first four banks identified.

BBC: UK banks

However, customers will be compensated if mis-selling emerges from the review.

BBC: Seven banks to review business loan sales

It stipulated, among other things, that banks and other lenders will have to review old complaints about the mis-selling of PPI.

BBC: Banks take on FSA over 'illegal' PPI rules

The rules, set for the end of March 2013, come after review by the City watchdog aimed at preventing the mis-selling of packaged bank accounts.

BBC: Bank rules seek to prevent account mis-selling

Seven more banks have agreed to review the sale of specialist insurance to small businesses to check for mis-selling.

BBC: Seven banks to review business loan sales

In its initial review on Thursday, the financial regulator revealed it will be looking at the possibility that the trusts were mis-sold and that promotions were misleading.

BBC: Split caps 'mis-sold'