UK watchdog under fire for lack of penalties in RBS small-business scandal

Senior politicians have lambasted Britain’s financial watchdog for failing to take action against RBS or its former executives for past mistreatment of small business customers.

The Financial Conduct Authority (FCA) said it was sticking by its decision not to apply penalties for actions of RBS’s former turnaround unit, the Global Restructuring Group (GRG).

Read more at KYC360.