14 Sep 2018
British lawmakers on Friday accused Royal Bank of Scotland (RBS) Chief Executive Ross McEwan of withholding information when he gave evidence to their committee in January, a charge the CEO disputes.
Nicky Morgan, chair of Parliament’s Treasury Committee, said McEwan failed to disclose, when asked whether there had been any criminal activity at the state-controlled bank, that one of its former employees was under investigation by police, despite RBS having been aware of this since 2017.
McEwan said in a statement he did not disclose the information because he did not consider it related to the subject under discussion with lawmakers.
The CEO was called before the Treasury Committee to discuss allegations of malpractice at RBS’s restructuring unit in the aftermath of the financial crisis.
Britain’s Financial Conduct Authority investigated the unit for the period from 2008 to 2013 and concluded that many aspects of its culture, governance and practices were “deficient,” although there had not been criminal activity.
By Emma Rumney, Reuters, 14 September 2018.
Link to Reuters.
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