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FSA to launch enquiry into Royal Bank of Scotland non-exec directors

In a rather bizarre move the Financial Services Authority has been asked to step in and investigate alleged "intimidation" of non-executive directors on the board of Royal Bank of Scotland. Lord Foulkes has claimed a number of non-executive directors have expressed concerns regarding their treatment when holding positions on the Royal Bank of Scotland board of directors.

The allegations centre around both intimidation and alleged suggestions that they would not be reinstated back onto the board if they continued asking "probing questions". It has to be said at this moment in time there is no evidence whatsoever in the public domain to back up these allegations although the Financial Services Authority investigation should get to the bottom of the situation and clarify the position.

Over the last few months there is no doubt that the Royal Bank of Scotland, and particularly Sir Fred Goodwin, has become the central hate figure in the UK financial sector. While many observers suspect a concerted campaign has been organised by the authorities with the intention of forcing Sir Fred Goodwin to pay back part of his pension fund, the fight goes on. Quite what will happen if the FSA find any substance to these latest allegations is unclear but this saga appears set to drag on for some time yet.

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