Financial Reporting Review Panel chief to shake up RBS report
Panel chairman to quicken publication of FSA's RBS collapse inquiry
BILL KNIGHT, chairman of the Financial Reporting Review Panel, is to review the Financial Services Authority’s tardy report into the collapse of RBS.
The former city lawyer and senior partner at Simmons & Simmons will investigate alongside Sir David Walker, a senior adviser at Morgan Stanley, the Financial Times reports.
Questions have been raised about the lateness of the report and the FSA’s rigorousness in examining its own part in the proceedings.
The FSA had initially promised the finished inquiry in March; the two respected figures are expected to hasten its publication, as well as making their own comments on the proceedings.
Accused of too light a touch in its dealings with the collapsed bank, critics have questioned how management’s poor decisions went unchallenged by the FSA at the height of the financial crisis.