In 2014, Promontory Financial Group and Mazars were appointed by the FCA to prepare an independent skilled persons report into RBS Global Restructuring Group’s conduct, which was produced in September 2016. This report provides a detailed review of the GRG “Dash for Cash” and makes findings as to the Bank’s misconduct in individual customer cases.
We understand that the report contains references to each case reviewed by the skilled person and makes comments on the conduct of the bank in specific cases. After 4 years of secrecy, the FCA is now facing pressure, including from a SME Alliance and the Treasury Select Committee to publish the report in full, after it was leaked to the BBC.
The FCA have now indicated they will issue a summary in due course however this will not go far enough for the victims of RBS’ GRG and West Register who are entitled to know the truth of these investigations. The outcome and finding within the report will clearly affect customer decisions as to whether to pursue their legal rights against RBS and others involved in misconduct at GRG. Importantly the FCA seem to be ignoring their asserted consumer protection role in favour of an effectively state-owned bank which raises questions about HM Treasury’s role in what could be described as a cover-up while legal rights expire along with the billion pound plus compensation bill.
Obtaining Parts of the GRG Report that Relate to Customers
On behalf of our clients affected by GRG, we have submitted data subject access requests (see below) to several organisations including the BBC, the FCA and RBS, as data controllers, in relation to the conduct of RBS GRG. We have included requests for the report or specific extracts which relate to our clients, which organisations should disclose under the Data Protection Act 1998.
For customers who have been affected and have suffered as a result of RBS’s conduct, it is important to obtain legal advice as soon as possible. Our team have expertise in this area and are currently advising many clients in large scale litigation claims. We are unable to assist all of the 12000 or so victims of RBS GRG directly. Therefore in order to assist as many people as possible, we have produced a subject access request letter that all individual victims can complete and send to these organisations who may be in possession of your personal data.
When completing the template subject access request letter, please use the organisation address and contact details provided below.
- Promontory Financial Group
Address: Promontory Financial Group (UK) Limited, 2nd Floor, 20 Old Broad Street, London, EC2N 1HT
Fax: 0207 3772361
- British Broadcasting Corporation
Address: Room BC2 B6, Broadcast Centre, White City, Wood Lane, London, W12 7TP
Address: Mazars, Tower Bridge House, St Katherine’s Way, London, E1W 1DD
Fax: 0207 0634001
- Royal Bank of Scotland
Address: Royal Bank of Scotland PLC, 36 St Andrew Square, Edinburgh, Midlothian, EH2 2YB
Fax: 0161 8624100
- Financial Conduct Authority
Address: Information Access Team, The Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS
Email: ; ;
What is a DPA Subject Access Request?
Under the Data Protection Act 1998, an individual is entitled to request all personal data, of which they are the subject, which is held by an organisation, as a data controller. The organisations listed above are all data controllers in respect of the GRG Report.
A data subject must be an individual and will include sole traders however a limited company is unable to make a request. Individual directors, officers and employees should make such requests personally.
You should submit with the request a cheque for £10, payable to the organisation and proof of identification. Upon receipt of a request, organisations have up to 40 days to respond to data subject access request letters.
For more detailed information please contact the Information Commisioner’s Office on 0303 123 1113 or visit their website at https://ico.org.uk/for-the-public/personal-information/.