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RBS faces 'further action' by financial regulator | |
(35 minutes later) | |
The financial regulator has said it may take "further action" over the way Royal Bank of Scotland treated some small business customers. | |
The Financial Conduct Authority (FCA) has published an interim report into the conduct of the unit set up by the bank to help struggling businesses. | |
FCA chief Andrew Bailey said it was investigating whether there were grounds for action against the bank. | |
RBS said it had acknowledged failings and again apologised for the mistakes. | |
The bank's Global Restructuring Group operated from 2005 to 2013 and at its peak handled 16,000 companies. | |
The FCA, which came under pressure to publish the report by MPs, identified a number of failings at RBS. | |
But the bank's chief executive, Ross McEwan, said the "most serious allegations made against the bank have not been upheld". | |
He added: "The culture, structure and way RBS operates today have all changed fundamentally since the period under review." |