FSA removed Sir Fred criticism

The Financial Services Authority removed criticism of Sir Fred Goodwin’s banking experience from its final report into the failure of RBS, said Bill Knight, one of two experts reviewing the FSA’s inquiry, in an appearance before the Treasury Select Committee yesterday. “It is true that the references to Sir Fred were changed following Maxwellisation but in my judgement actually, it was a fair change,” he said, referring to a period when individuals named in a report have a chance to respond. The FSA’s report was released in December after huge political pressure.