Deadline set for toxic RBS report

A SECRET report into a toxic turnaround unit at Royal Bank of Scotland must be published by the end of next week, MPs have said.

RBS’s Global Restructuring Group was meant to help firms stay afloat during the Great Recession but critics claim it instead deliberately destroyed companies and seized their assets.

The Financial Conduct Authority has so far refused to unveil the full version of a report into the scandal but RBS has now said it will not stand in the way of publication.

FCA chief Andrew Bailey yesterday told the Treasury Select Committee that he is hoping to publish soon. Committee chairman Nicky Morgan told him to release it on February 16 at the latest.