Bosses' failings caused RBS demise
Poor management decisions and the last Labour government’s light-touch regulatory regime were key factors in the near-collapse of Royal Bank of Scotland, a long-awaited report by the City watchdog said today.
The Financial Services Authority (FSA) highlighted deficiencies in the management, governance and culture at RBS and said that the deal which effectively broke the bank – the £50bn takeover of Dutch bank ABN Amro - was carried out with inadequate due diligence.
