Independent review of the FSA's report into the failure of RBS - further information

On 23 May 2011 two specialist advisers, Sir David Walker and Bill Knight were appointed by the Committee to assist with the Committee’s work on the failure of RBS and the FSA’s conduct with respect to it.

The terms of reference required them to report to the Committee on the extent to which the FSA Report into that failure is a fair and balanced summary of the relevant evidence gathered by the FSA and PricewaterhouseCoopers and whether it fairly reflects the findings of the FSA’s investigation.

They were also asked to report on whether the FSA Report is a fair and balanced summary of the Authority’s own analysis of its regulatory and supervisory activities in the run up to the failure of RBS.

The FSA Report

The FSA Board Report on the failure of RBS was published on 12 December 2012.

Written evidence

Sir David Walker and Bill Knight submitted written evidence on the FSA's report

Written evidence submitted by Sir David Walker and Bill Knight on the FSA's report into the failure of RBS (PDF PDF 68 KB)

Oral evidence

The following evidence sessions were held for this in inquiry:

Tuesday 24 January 2012 - Committee's Specialist Advisers

Transcript - 24 January 2012


  • Sir David Walker, and
  • Mr Bill Knight, Specialist Advisers to the Treasury Committee

Monday 30 January 2012 - Financial Services Authority

Transcript - 30 January 2012

  • Witnesses: Lord Turner, Chairman,
  • Hector Sants, Chief Executive Officer, and
  • Margaret Cole, Managing Director, Enforcement, Financial Crime and Markets, Financial Services Authority

Image: PA