UK Steps Up Probe Into Alleged RBS Lending Abuses

Law360, New York (January 17, 2014, 2:06 PM EST) -- U.K. financial regulators on Friday announced that they have asked outside consultant and auditing firms to investigate allegations that the Royal Bank of Scotland PLC pushed small- and medium-sized enterprises into default in a bid to boost its own profits.

The U.K. Financial Conduct Authority said Promontory Financial Group and Mazars Group would produce “an independent skilled persons report” into claims that RBS, which was bailed out by the U.K. government in 2008, took advantage of distressed customers. Those allegations were first levied by two reports...
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