FSA passes RBS probe to independent review - papers

The Financial Services Authority (FSA) has handed effective control of its investigation into the near collapse of Royal Bank of Scotland to an independent review ordered by Parliament. Sir David Walker, who has been put in charge of the inquiry into the FSA's work, has been given the power to interview officials at the regulator as well as former RBS managers and directors as part of his independent review of the FSA's report. MORE... UK consumers are technically back in recession after household spending contracted for the second quarter running at the start of the year. MORE...