FSA 'seriously misjudged' takeover

The City watchdog has been accused of "serious misjudgment" in its failure to step in and block Royal Bank of Scotland's disastrous takeover of Dutch rival ABM Amro.

A report by MPs on the Treasury Select Committee slammed the Financial Services Authority (FSA) for the part it played in the failure of RBS, which saw the taxpayer stump up £45.5 billion to prevent it from collapse.
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