Fred the Shred to escape scrutiny in FSA report into RBS

The Financial Services Authority's report into the collapse of Royal Bank of Scotland will not examine in any detail the role played by Sir Fred Goodwin and Sir Tom McKillop, its two most senior directors.

The Sunday Telegraph understands that the report, due to be published on 12 December, will not centre on the work of the two men - chief executive and chairman respectively at the time of the bank's downfall in October 2008 - nor decisions made by them in connection with the €71bn (£61bn) acquisition of ABN Amro. Instead, one source with knowledge of the report indicated it will centre on the part played by Johnny Cameron, the head of RBS's investment banking arm at the time. Cameron is the only member of RBS's senior management team to have been censured as a result of the bank's col...