Author: Sophia Hanif

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Financial Ombudsman increases award limit to £350,000

From 1 April 2019, the Financial Ombudsman Service (FOS) can make awards against regulated firms of up to £350,000, which represents an increase of 133%. The following award…

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GRG Complaints Process Outcomes: What next?

In October 2018, the complaints process closed to individuals with claims against the Royal Bank of Scotland’s notorious Global Restructuring Group. Individuals and SMEs are now starting to receive updates on their complaints with some receiving outcome letters. Your complaint to GRG The complaints process is a…

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Ross McEwan claims RBS “deeply regret the mistakes made in the past” yet fails to accept critical report’s findings in letter to Nicky Morgan MP

Ross McEwan, CEO of RBS, apologised for past mistakes with SME customers in the Global Restructuring Group (GRG) but rejected key critical findings from the FCA report. He acknowledged some failings like poor communication and complaint handling but denied systematic misconduct or direct causation of insolvency by RBS. McEwan highlighted major cultural and operational changes at RBS since and emphasized ongoing compensation and complaints processes agreed with the FCA. The FCA’s Andrew Bailey described RBS’s stance as “unfortunate,” with potential enforcement action underway.