RBS should accept criticisms in report 'more readily': FCA chief
Reuters
Published Oct 31, 2017 07:08AM ET
RBS should accept criticisms in report 'more readily': FCA chief
LONDON (Reuters) - The head of Britain's financial watchdog said on Tuesday that it is "unfortunate" that the Royal Bank of Scotland (L:RBS) does not more readily accept strong criticisms made in a report on its treatment of struggling businesses during and after the financial crisis.
Andrew Bailey, chief executive of the Financial Conduct Authority (FCA), told MPs that he believes RBS should have reacted differently to the conclusions of the report into its behavior.
"The report is strongly critical of RBS, and I think it is frankly unfortunate that RBS has not in a sense accepted that more readily," he said.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.