The FSA was due to report its findings after its investigation into the 2008 implosion of RBS by the middle of April. However, the watchdog has found itself embroiled in a legal dispute over its tone and content, reported the Financial Times.
Lawyers acting for RBS are concerned that some passages may expose the group to further litigation, particularly in the US, while the legal team representing Johnny Cameron, the former head of RBS’s investment banking arm, has also raised several objections, according to sources familiar with the process.
In December 2010, FSA chairman Lord Turner wrote to Treasury select committee chairman Andrew Tyrie, mentioning that the regulator would aim to release a version of the report by the end of March.
The FT reported that the FSA is now lining up an independent arbiter to vet its conclusions for thoroughness and accuracy with Tyrie as its likely choice.
However, sources familiar with the FSA’s thinking said that Mr Tyrie remained an unlikely option, according to the FT.
