TSC advisers pushed FSA to scrutinise its role in RBS failure

Special advisers to the Treasury Select Committee have revealed they felt compelled to press the Financial Services Authority to better scrutinise its role in the downfall of Royal Bank of Scotland.

The FSA yesterday published its long awaited report on the causes that led to one of the largest banks in the world needing an 83% taxpayer bailout. The 400 page document is a far cry from the single page explanation the FSA intially released, in what chairman of the TSC Andrew Tyrie said amounted to the public "being brushed off" in exchange for the billions of pounds taxpayers put at risk to save the bank from collapse. But evidence from special advisers appointed by the TSC, who reviewed all of the same information the FSA had when compiling the document, have revealed they had to ...