Some £1.3bn was given away in 174 separate donations worth £1m+ during the 2009/10 financial year, according to the latest report from Coutts.
The Financial Services Authority has admitted ‘flaws’ in its own supervisory approach played a part in the failure of Royal Bank of Scotland and provided insufficient challenge to the firm.
Poor management decisions by the Royal Bank of Scotland were cited as the reason for the bank’s collapse.
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