No one has been brought to account over scandal at Royal Bank of
Scotland’s turnaround unit
The suspense is over. A full six years after Royal Bank of
Scotland was accused of gouging thousands of distressed
small-business customers, we can finally read the Financial Conduct
account of a shameful chapter for UK banking.
Or, since we all already knew the FCA’s independent
investigator had found “systematic and widespread” misconduct
at GRG, RBS’s restructuring unit, we can learn something more
important. Who was to blame? Who will be held to account? Who will
find their career in financial services ended by our fearless
regulator? The answer is … nobody.
Source: FS – All-News2-Economy
We do not know who is to blame for GRG debacle or if FCA could stop a repeat | Nils Pratley