February 9, 2018 / 2:23 PM / 5 months ago

UK regulator resists parliament request to publish RBS report

LONDON, Feb 9 (Reuters) - Britain’s Financial Conduct Authority said on Friday it was legally barred from publishing a report into misconduct by Royal Bank of Scotland during the global financial crisis that has been requested by a parliament committee.

FCA Chief Executive Andrew Bailey said it was “highly unlikely” that it would be able to publish the report into RBS’s treatment of small businesses by a Feb. 16 deadline set by parliament’s Treasury Committee earlier this week.

Bailey said he would provide lawmakers with a copy of the report - extracts of which have already been leaked to media - by Feb. 16 if they made a further formal request, but urged them against publishing it themselves.

“If the Committee decides itself to publish the report, it will no doubt want to consider carefully the precedent of publishing a document obtained from the FCA under Parliamentary Privilege where the FCA considers that it is legally constrained from publishing the document itself,” Bailey said. (Reporting by David Milliken; editing by Stephen Addison)

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