Former Royal Bank of Scotland chief executive Sir Fred Goodwin (pictured) could be stripped of his knighthood, Prime Minister David Cameron has said.
Cameron said the knighthood awarded to Goodwin will be referred to the honours forfeiture committee, where it will be decided whether the strip him of the title or not.
According to reports, the Prime Minister said the committee, which has the power to strip people of their honours, would take into account the FSA’s recent report into the failure of RBS, which he presided over. RBS had to be rescued by the Government in 2008 after making a £24.1bn loss.
In December, business secretary Vince Cable suggested Goodwin may face criminal charges after the report revealed the bank’s directors broke UK accountancy laws.