PwC called in for RBS probe

PricewaterhouseCoopers has been called in by the Financial Services Authority
to investigate the conduct of former board directors of Royal Bank of Scotland.

The regulator wants to assess whether the RBS top brass, including former
chief executive Sir Fred Goodwin, behaved competently as the financial crisis
ravaged the capital markets.

One area of focus will look at whether the stock market was kept properly
informed about the bank’s financial position in the period surrounding its £12bn
rights issue in the spring of last year, the Daily Telegraph reported.

Ernst & Young is also understood to have been appointed as part of the
FSA’s probe into the banking crisis.

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