FCA report into RBS called a 'complete whitewash' by critics

Watchdog will take no action despite evidence of business customers being mistreated after 2008 crash

A report by the City watchdog into the scandal at Royal Bank of Scotland's turnaround unit has been described as a whitewash after the regulator confirmed it would not punish the bank for mistreating business customers following the financial crash.

The Financial Conduct Authority's final report into RBS's now-defunct Global Restructuring Group (GRG) said it would take no action against the lender or senior staff despite evidence of "systemic and widespread" mistreatment of small- and medium-sized business customers between 2008 and 2013.

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