RBS Failure Spurs UK Watchdog To Call For Tighter Regs

Law360, New York (December 12, 2011, 4:04 PM EST) -- A U.K. regulator called for regulatory approval of all major bank acquisitions and a debate on tougher sanctions for executives and directors of failed banks as part of a report Monday dissecting the breakdown of Royal Bank of Scotland Group PLC.

Recommending the explicit approval of bank acquisitions, the Financial Services Authority said an RBS-led consortium's purchase of Dutch bank ABN Amro NV in 2007 increased the bank's vulnerability to deteriorating market conditions and was among several reasons for its near collapse in 2008. FSA approval...
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