Osborne seeks EU clearance to split RBS

clock

The Treasury has applied for European Union (EU) approval to split up Royal Bank of Scotland (RBS), to smooth the process of carving up the state-owned lender.

The FT and Telegraph report the Chancellor sought clearance for the split of the 83%-taxpayer owned bank in July, meaning the government avoided newly-introduced rules on state support for banks. The Telegraph said the early notification to Brussels, which also came before stricter new rules on executive pay and share ownership came into force, wold make it easier to split RBS into a 'good' and 'bad' bank if the Treasury wanted to. A Treasury spokesman said the government would not provide a "running commentary" of discussions with the EU.

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Party politics: Why investors should celebrate AIM's 30th birthday, even if the government won't

Party politics: Why investors should celebrate AIM's 30th birthday, even if the government won't

AIM has helped 4,000 businesses raise £135bn since launch

Eustace Santa Barbara
clock 19 June 2025 • 4 min read
AIM at 30: Why advisers should take a fresh look at the UK's junior market

AIM at 30: Why advisers should take a fresh look at the UK's junior market

'We see AIM as a jewel in the crown with long-term appeal for the right clients'

Oliver Brown
clock 17 June 2025 • 4 min read
Taking the rough with the smooth: How to navigate global market volatility

Taking the rough with the smooth: How to navigate global market volatility

'Like investing, smoothing isn't one-size-fits-all'

James Tothill
clock 13 June 2025 • 4 min read