RBS faces call for FCA-agreed GRG Review compensation scheme
The FCA is set to recommend a compensation scheme for businesses harmed by RBS’s Global Restructuring Group (GRG), according to an upcoming report. While the GRG Review may be quicker than litigation, it is criticised for being unfair and limiting compensation. Victims are advised to consider parallel litigation, which is designed to ensure a fair outcome. GRG, a troubled business support unit within RBS, controlled assets of 16,000 SMEs before being disbanded in 2014 following misfeasance allegations.