COMMONS

Treasury Committee Chairman Questions RBS Secrecy

14 December 2010

Following the investigation by the Financial Services Authority into the collapse of Royal Bank of Scotland and its subsequent bail-out, Treasury Committee Chairman Andrew Tyrie has written to the Chairman of the FSA asking for a summary of the investigation to be produced, which could be released with the consent of those involved.

 

The Chairman of the Committee, Andrew Tyrie MP, said:

“It is in the public interest that as much as possible of the findings of this investigation be made public. It is crucial that we learn the lessons from the catalogue of mistakes which necessitated a huge tax-payer funded bailout; not least for the assistance it may provide in getting regulation right for the future.

 

In this case, the FSA has not been able to release the findings of their investigation into RBS. The Financial Services and Markets Act restricts publication of details relating to individuals without their consent. The FSA have assured us that they have conducted a thorough investigation. We need to see it.”

 

 

Further Information

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