The House of Commons’ Treasury Select Committee has published a memorandum of advice by Bill Knight and Sir David Walker, as specialist advisers to the Treasury Select Committee, on the Financial Services Authority's ("FSA") report on the Failure of the Royal Bank of Scotland ("RBS"). The memorandum considers whether the FSA’s report (i) provides a fair and balanced summary of the failure of RBS; (ii) provides a fair and balanced summary of its own regulatory and supervisory activities leading up to the failure of RBA; and (iii) fairly reflects the findings of the FSA’s investigation.