Page 14 - RBS GRG F Teaching Note

It may be strongly argued that even if the FCA had been able

to fine RBS for GRG’s actions any fine merely punishes

shareholders for the actions of senior bank management

particularly when the bank is more than 70% owned by the

Government.

Perhaps individual managerial responsibility for their

actions is called for? It seems too convenient for

management to hide behind the cloak of corporate

responsibility, to side-step the consequences of their actions
and to be rewarded for both success and failure.