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RBS should accept criticisms in report 'more readily': FCA chief

Published 10/31/2017, 07:08 AM
Updated 10/31/2017, 07:10 AM
© Reuters. FILE PHOTO: A woman shelters under an umbrella as she walks past a branch of RBS in the City of London

LONDON (Reuters) - The head of Britain's financial watchdog said on Tuesday that it is "unfortunate" that the Royal Bank of Scotland (L:RBS) does not more readily accept strong criticisms made in a report on its treatment of struggling businesses during and after the financial crisis.

Andrew Bailey, chief executive of the Financial Conduct Authority (FCA), told MPs that he believes RBS should have reacted differently to the conclusions of the report into its behavior.

"The report is strongly critical of RBS, and I think it is frankly unfortunate that RBS has not in a sense accepted that more readily," he said.

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