The Financial Services Authority (FSA) will today question Stuart Rose over his decision to purchase shares in Marks & Spencer last month.

He is due to meet with the FSA later this morning and has promised to stand down if the Authority concludes he acted wrongly, according to newspaper reports.

The FSA is investigating Rose’s purchase of 100,000 shares in M&S on 7 May, within 90 minutes of receiving a phone call from Philip Green, who has been trying to buy the retailer.

As reported yesterday, the response from the Board of Marks & Spencer was that Rose did not know that Green intended to bid for Marks & Spencer when he acquired M&S shares on 7 May.

Rose is also conducting a row with Goldman Sachs, who he is accusing of “promoting an untruth to damage my reputation,” according to reports this morning.

Rose is alleged to have told a client of Goldman Sachs that he had been appointed chairman of Green’s bid company. The conversation is alleged to have taken place three days before the bid became public.

Rose demanded a written retraction yesterday but the American investment bank failed to respond. Marks & Spencer is now considering legal action against the bank.