Rebuke as Cable writes to prosecutor

Lord Advocate Frank Mulholland voiced disappointment that Mr Cable had written to the Advocate General – a man said to have no role in the investigation – and said it would be “unfortunate” if the move were construed as an attempt to interfere with prosecutorial decision-making.

In his letter, Mr Cable said there was “considerable public concern” about the actions of the lender’s bosses, which left RBS needing a £45.5bn taxpayer rescue. He asked for an update on the progress of the case and likely timeframes for a decision but insisted he was “not seeking to influence the outcome” of the legal process. Mr Mulholland said legal officials had kept Business Department officials advised of progress throughout.

The matter was referred to Scottish prosecutors in January last year following a report by the Financial Services Authority.