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UK watchdog starts investigation into RBS IT failure
April 9, 2013 / 12:42 PM / 4 years ago

UK watchdog starts investigation into RBS IT failure

LONDON, April 9 (Reuters) - Britain’s financial watchdog is investigating last year’s technology failures at state-backed Royal Bank of Scotland, the new regulator said on Tuesday.

The Financial Conduct Authority (FCA), which this month took over the supervision of standards of financial firms, said it had started an enforcement investigation into the IT failures at RBS that affected thousands of customers in June and July. The FSA rarely disclosed any enforcement investigations before they were resolved.

“The FCA will reach its conclusions in due course and will decide whether or not enforcement action should follow that investigation,” the FCA said.

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