Watch­dog won’t pub­lish RBS re­port

Belfast Telegraph - - BUSINESS - BY STAFF RE­PORTER

THE UK’S fi­nan­cial watch­dog has re­fused to pub­lish a leaked re­port into the scan­dal at Royal Bank of Scot­land’s con­tro­ver­sial re­struc­tur­ing unit de­spite de­mands for its re­lease by an in­flu­en­tial com­mit­tee of MPs.

Fi­nan­cial Con­duct Author­ity boss An­drew Bailey pushed back af­ter re­ceiv­ing a let­ter from Tory MP and Trea­sury Com­mit­tee chair Nicky Mor­gan, who raised con­cerns about a leak to the BBC last month.

Mr Bailey said pub­lish­ing the skilled per­sons or Sec­tion 166 re­view — which col­lects in­sight about a firm’s ac­tiv­i­ties from third par­ties — would mean re­veal­ing in­for­ma­tion about the in­di­vid­u­als who con­trib­uted to it.

The re­port cen­tres around the con­duct of Ul­ster Bank owner RBS’s Global Re­struc­tur­ing Group. Hundreds of for­mer Ul­ster Bank cus­tomers could be due com­pen­sa­tion, af­ter the BBC re­vealed some busi­nesses within RBS were mis­treated.

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