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FCA disputes reports of legal threat over RBS report

A worker cleans the glass exterior next to the logo of RBS (Royal Bank of Scotland) bank at a building in Gurugram on the outskirts of New Delhi, India, September 8, 2017. REUTERS/Adnan Abidi

LONDON (Reuters) - Britain’s financial watchdog on Friday rebutted reports that the threat of legal action from the Royal Bank of Scotland caused it to avoid publishing a confidential report into the bank’s treatment of struggling businesses.

The Financial Conduct Authority (FCA) said that it did not publish the report into RBS’s Global Restructuring Group because it could not do so legally without seeking consent from individuals named in the report, which it did not do.

British newspapers earlier this month had reported that the FCA feared legal reprisals if it published the full report.

Reporting by Emma Rumney, Editing by Lawrence White

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