Former Royal Bank of Scotland (RBS) boss Fred Goodwin has had his knighthood "cancelled and annulled" having brought the honours system into disrepute.
There has been increasing political pressure for the title to be withdrawn over his role in the collapse of RBS amid the credit crunch in 2008.
The bank, which is now more than 80% owned by the Government, needed rescuing and was bailed-out with £45bn of taxpayers' money.
The knighthood was given to Mr Goodwin in 2004 for "services to banking".
But following consideration by members of the Forfeiture Committee, the ex-banker was stripped of the honour. Read More