An industry-led campaign calling for the long-stop, led by network Tenet, provider Zurich and Apfa, was formed in June.
A meeting between Apfa and the FCA last month the City regulator asked Apfa to produce more information and come back to additional talks.
Right to reply
The FCA and Mercer declined to comment.
Robin Melley, director at Shropshire-based Matrix Capital, said: “The statute of limitations has been the guidance legislation for many years and I don’t see why it shouldn’t apply in all situations.”