TOXIC RBS REPORT MADE PUBLIC

A DAMNING report into wrongdoing at the Royal Bank of Scotland has finally been officially made public.

The study reveals a litany of failures by staff and management at RBS’s notorious Global Restructuring Group, which was meant to help struggling small businesses during the financial crisis but instead weighed them down with toxic fees.

It was commissioned by the Financial Conduct Authority and completed in 2016. But the FCA refused to publish a full version until everyone criticised had been given a legal right of reply. It triggered accusations of a coverup and then, in a humiliation for the watchdog, the report was leaked online.

MPs on the Treasury Select Committee yesterday used their Parliamentary powers to publish it officially.

Committee chairman Nicky Morgan said: ‘There is overwhelming public interest in bringing transparency to what happened at GRG, given the earlier leak of the report, and in ensuring that everyone can see, and know that they are seeing, an authentic and verified copy.’