Bloomberg.com: U.K. Financial Regulator Starts Probe of Shell Amid Reserve Cut

April 23 (Bloomberg) -- The U.K.'s financial regulator said it began a formal investigation into the British arm of Royal Dutch/Shell Group, which has surprised investors this year by reducing its proved oil and gas reserves.

``The FSA today confirms that it is formally investigating various issues surrounding recent announcements made by The Shell Transport and Trading Co.,'' the Financial Services Authority said in a statement on the Regulatory News Service.

``The FSA has been conducting enquiries into this matter for some weeks now, including gathering and analyzing documentary evidence, and has been in close contact with the relevant overseas regulators throughout,'' the statement said.

To contact the reporter on this story:
Alex Lawler in Vienna alawler@bloomberg.net.

To contact the editor on this story:
Tim Coulter at tcoulter@bloomberg.net

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