The Financial Conduct Authority is facing fresh demands to abandon the secrecy it has attached to a review of Royal Bank of Scotland’s restructuring division after it emerged that it had commissioned the report with a view to making it public.
Andrew Bailey, chief executive of the watchdog, has resisted calls from MPs and affected business owners to disclose the full results of its investigation into the scandal-hit Global Restructuring Group, telling parliament last month that it was “conducted on the basis that there is no intention to publish”.
However, The Times can reveal that when the FCA commissioned the section 166 report in 2014, it told reviewers that they should carry out their work on the basis that the report could be “made public”.
