The Financial Conduct Authority is considering whether it can take action against Royal Bank of Scotland over the way it treated its small business customers in the five years after the 2008 banking crisis.
Publishing a summary of a report it commissioned on the bank’s controversial global restructuring group (GRG), the FCA said lending to small businesses and other companies was largely unregulated.
But Andrew Bailey, chief executive of the FCA, said the regulator was investigatingmattersarising from the report and focusing on “whether there was any basis for further action within our powers”.
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