The obvious regulator in that case would be the European Banking Authority (EBA), which currently writes rules but does little actual supervision.

ECONOMIST: The euro crisis

The regulator then passed its case to criminal investigators, who have been probing its operations.

ECONOMIST: Start-Up Chile: Shut down Cumplo | The

He said this was a "complex" case and the regulator had "discussed matters at great length with the charity's trustees".

BBC: Glasgow & West Scotland