business

RBS head accused of deceptive MPs in bribery investigation

RBS head accused of deceptive MPs in bribery investigation

The chief executive of Royal Bank of Scotland is accused of deceiving a parliamentary committee by deliberately withholding details from a criminal investigation into alleged bribery.

The Treasury Select Committee accused Ross McEwan, the CEO of RBS since 2013, of "withholding information of interest and interest for the committee" when it appeared in January as part of its investigation into whether the taxpayer audited bank thousands of small businesses battered customers was intended to help in the outbreak of the financial crisis.

It is the latest blow to RBS as it tries to restore its battered image and draws a line under the scandal around the notorious Global Restructuring Group, which collapsed after thousands of SME customers complained that it had tried to take advantage of their misery. The Financial Conduct Authority earlier this summer concluded after four years of research that it did not have the power to penalize RBS or its senior managers at the time, as commercial loans remain largely unregulated.

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