The results of the Financial Services Authority probe, due to be published next Monday after a series of delays, are expected to avoid a full analysis of the work of the former chief executive and chairman and to focus on Johnny Cameron, the ex-head of investment banking, who has been banned from any full-time work in the City.
The report is also expected to highlight the global financial crisis and the €71bn (then £49bn) takeover of ABN Amro, by RBS and two other banks, as major contributors to why RBS needed a £45bn taxpayer bailout and billions more in state-backed loans. A “let-off” for Goodwin, however, is likely to provoke the fury of MPs.
The FSA said it would not give a “running commentary” in the run-up to the report’s publication. RBS declined to comment.