FSA’s report on “The Failure of the Royal Bank of Scotland”

The UK’s Financial Services Authority has published their report. See http://www.fsa.gov.uk/pages/Library/Other_publications/Miscellaneous/2011/rbs.shtml

In October 2008, the Royal Bank of Scotland (RBS) failed and had to be part-nationalised.

Here we publish our Board’s Report into: the causes of the failure of RBS; and deficiencies in, and lessons for, the regulatory framework, supervision and the management of firms. It also explains the decisions reached by the FSA’s Enforcement and Financial Crime Division on whether there were grounds for bringing enforcement action for breaches of FSA rules.

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