Scottish first minister Alex Salmond is calling on the FCA and the police to investigate the handling of Royal Bank of Scotland’s decision to relocate to London in the event of Scottish independence.
During the final frantic days of campaigning on the referendum for Scottish independence last month, RBS said it would relocate if there was a Yes vote.
The Financial Times reports Salmond believes it had a significant impact on the campaign, which finished at 45 per cent for Yes and 55 per cent to the No camp. Salmond says Treasury officials briefed details of the state-owned bank’s move before it had been agreed by the RBS board in breach of FCA rules.
He said: “The disclosure of market-sensitive information in this way was an extremely serious breach of the rules on insider dealing and must be investigated in the proper fashion.
“The fact that the Treasury was briefing some of the media about a bank’s intentions hours before official notice to the markets and indeed during the bank’s own board meeting cannot be swept under the carpet.”