31/01/2012 - Sants Ducks Blame Over RBS Fiasco

Sants Ducks Blame Over RBS FiascoSants Ducks Blame Over RBS Fiasco.

Giving evidence to the Treasury Select Committee, Financial Services Authority (FSA) chief executive Hector Sants tried to shift the blame for the FSA’s actions in the run-up to the failure of Royal Bank of Scotland (RBS) on the previous chief executive John Tiner.

Sants apologised for RBS’s failure, but defended his personal role in scrutinising the bank and claimed that the previous FSA chief exectuve did not even look at RBS’s ill-fated acquisition of ABN Amro.

Sants also stated that none of RBS's former managers were fit to run a regulated group and that he would block any of their attempts to return to financial services.