الرئيسية
LONDON (Reuters) - Bank takeovers should face deeper scrutiny and
directors be more accountable for their actions, Britain's finance
watchdog said in a long-awaited report into Royal Bank of Scotland's near collapse.
The Financial Services Authority (FSA) said in a 452-page report on
Monday that RBS managers, like former chief executive Fred Goodwin, were
most at fault in the bank's brush with bankruptcy, which was only
averted by a 45 billion pound ($70 billion) government bailout in 2008.
The regulator, which is due to be broken up next year with much of
its remit returning to the Bank of England, was also critical of its own
actions and of former Prime Minister Gordon Brown for encouraging a
"light touch" regulatory regime.
The report, like earlier investigations, said there was no prospect
of successful legal action against former RBS executives as there was no
evidence of criminal wrongdoing, although they had made a series of bad
decisions.
directors be more accountable for their actions, Britain's finance
watchdog said in a long-awaited report into Royal Bank of Scotland's near collapse.
The Financial Services Authority (FSA) said in a 452-page report on
Monday that RBS managers, like former chief executive Fred Goodwin, were
most at fault in the bank's brush with bankruptcy, which was only
averted by a 45 billion pound ($70 billion) government bailout in 2008.
The regulator, which is due to be broken up next year with much of
its remit returning to the Bank of England, was also critical of its own
actions and of former Prime Minister Gordon Brown for encouraging a
"light touch" regulatory regime.
The report, like earlier investigations, said there was no prospect
of successful legal action against former RBS executives as there was no
evidence of criminal wrongdoing, although they had made a series of bad
decisions.