Here’s what you need to know
Following the Treasury Committee’s evidence session with the Financial Conduct Authority (FCA) today, Rt Hon. Nicky Morgan MP, Chair of the Treasury Committee, has written to Andrew Bailey, Chief Executive of the FCA.
Mrs Morgan has set a deadline of 16 February 2018 for the FCA to publish the skilled persons’ report (Section 166) into RBS’ treatment of small business customers in its Global Restructuring Group (GRG). Failing that, the Committee has requested that the FCA send the report to the Committee by the same date.
Commenting on the correspondence, Mrs Morgan said:
“A version of the report is in the hands of third parties, it has been selectively reported by the media, and it may enter the public domain at any time. The FCA has lost control over the timing or content of further public disclosures from it.
“For these reasons, the Committee has requested that the FCA publish the final definitive version of the report, or send it to the Committee, by Friday 16 February.”