January 30, 2018 / 4:59 PM / a year ago

UK watchdog says will publish RBS small business report in full

Royal Bank of Scotland signs are seen at a branch of the bank, in London, Britain December 1, 2017. REUTERS/Peter Nicholls

LONDON (Reuters) - Britain’s financial watchdog said on Tuesday it will publish in full a report it commissioned on how Royal Bank of Scotland (RBS.L) treated small businesses.

The Financial Conduct Authority has come under pressure from lawmakers to publish the report, having only published a summary to date.

“The FCA welcomes the statement by Royal Bank of Scotland, given at today’s Treasury Committee hearing, that they will not object to the FCA publishing the S166 report into the treatment of small and medium-sized enterprise customers transferred to its Global Restructuring Group,” the watchdog said in a statement.

“On this basis, we are content to publish the s166 report. To do so will also require the consent of those who provided the information in the report and any individuals who are identified.”

RBS Chief Executive Ross McEwan told lawmakers earlier on Tuesday that the bank would not object to the report being published in full.

Reporting by Huw Jones, editing by Carolyn Cohn

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