Report will blame light-touch regulation as contributory factor in Royal Bank of Scotland failure

A REPORT into the failure of Royal Bank of Scotland is expected to blame light- touch regulation and a catalogue of financial errors for pushing the bank to a £45.5bn taxpayer bailout in 2008.

The near-500 page report will be released by the Financial Services Authority today.

It is expected to recommend that banks should gain regulatory approval for significant acquisitions and, possibly, independent advice about such deals.

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