Regulators to be asked about how £10m scam was investigated, as Guardian Today in Focus podcast raises fresh questions about case

Financial regulators are to be summoned to parliament to explain how they prosecuted the case of a multimillion-pound pensions fraud whose victims have yet to receive compensation and which has not led to anyone serving prison time.

Sir Stephen Timms MP, chair of the work and pensions committee, said he was launching an inquiry into how watchdogs and prosecutors handled the case, in which £10m of pension savings disappeared after being invested in the heritage brand Norton Motorcycles.