Fred the Shred's alleged affair 'irrelevant' to RBS failure

Royal Bank of Scotland chief executive Fred Goodwin's alleged affair had no impact on the downfall of the bank, the Financial Services Authority has decided.

In May, Sir Fred Goodwin faced claims from MPs that his alleged affair with a senior colleague could have affected his judgment as RBS collapsed. Goodwin took out an injunction to stop details of his private life from being brought into the public domain. There were also demands at the time for him to be re-interviewed by the FSA as it was compiling its long-awaited report into the 2008 collapse of RBS, amid suspicion the injunction had prevented the report becoming public. But in the findings of its investigation, out today, the FSA denied Goodwin's legal action had any impact on ...