The City regulator is at loggerheads with MPs after refusing to publish a report it commissioned into the way Royal Bank of Scotland treated small business customers.
Andrew Bailey, the chief executive of the Financial Conduct Authority, has told MPs on the Treasury select committee that publication of information in the report could be a criminal offence under the Financial Services and Marketing Act.
In a letter to Nicky Morgan, the conservative MP who chairs the committee, Bailey said publishing the report could also undermine the regulators ability to supervise firms because reviews are conducted on the basis that they will remain private.
That promise of privacy, he said, meant firms dont try to withhold information and the wat…
Read the full article at: https://www.theguardian.com/business/2017/sep/15/fca-refuses-to-publish-report-on-rbs-and-small-business-customers