FSA in disarray over RBS report

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The Independent Online

The Financial Services Authority is poised to admit its report into the near-collapse of Royal Bank of Scotland in 2008 could be delayed indefinitely. The City watchdog was due to publish its report at the end of March into the crisis that led to the Government bailing out RBS with £45bnbut there is still no timetable forit to appear.

Andrew Tyrie, the chairman of the Treasury Select Committee, is set to kick off talks with the FSA, which declined to comment yesterday, to break the impasse. One barrier is the complexity of the issues, as RBS lawyers fear the bank could face legal action in the US. Lawyers acting for Johnny Cameron, the ex-head of RBS's investment banking arm, are also reported to be reluctant to give the report the green light.

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