UK watchdog sets out review into RBS business loans

LONDON Fri Jan 17, 2014 4:13am EST

LONDON Jan 17 (Reuters) - Britain's financial regulator has appointed two outside companies to review Royal Bank of Scotland's treatment of business customers in difficulty.

The Financial Conduct Authority said Promontory Financial Group and Mazars, an accounting firm, will conduct the independent review which will be paid for by the bank.

The review will consider allegations of poor practice set out in two reports, and publish its findings in the third quarter.

"The review will also consider whether any poor practices identified are widespread and systematic. If this is the case, the second stage of the review will identify the root cause of these issues and make recommendations to address any shortcomings identified," the FCA said in a statement on Friday.

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