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  • Posts Tagged ‘GRG’

    FCA’s final report on GRG: Financial watchdog fails (again) to take enforcement action against RBS’s misconduct

    Posted on June 13th, 2019 by Jaron Dosanjh

    The Financial Conduct Authority has today published its’ final report into the misconduct of the Royal Bank of Scotland‘s GRG unit. The report purports to explain the FCA’s reasoning behind its decision in July 2018 not to take action against […]

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    APPG on Fair Business Banking: Improve SMEs access to justice and establish a Financial Services Tribunal

    Posted on July 12th, 2018 by Jaron Dosanjh

    The APPG on Fair Business Banking launched their highly anticipated dispute resolution report on 11 July 2018.  The report, authored by Kevin Hollinrake MP and undertaken by the Centre for Policy Studies, sets out the position of the APPG on […]

    “Banks, Frauds and Accomplices”: Police and Crime Commissioner rebukes Lloyds & large-scale UK banking fraud beyond HBOS scandal

    Posted on July 10th, 2018 by Jaron Dosanjh

    New City Agenda Event, Tuesday 10th July 2018, Committee Room 14, House of Commons A well-attended New City Agenda event heard from Anthony Stansfeld, the Thames Valley Police and Crime Commissioner, on the HBOS banking fraud and the lessons from this […]

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    RBS to Expand GRG Redress Scheme: Independent Oversight for Consequential Loss Compensation Appeals Process

    Posted on May 24th, 2018 by Jaron Dosanjh

    The Royal Bank of Scotland (RBS) has recently announced that it will expand its redress scheme to include appeals with independent third- party oversight for consequential losses incurred by businesses in its Global Restructuring Group (GRG) turnaround division. RBS’s Chief […]

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    LIBOR, FX and Key Benchmark Rigging Claims against RBS, Barclays, HSBC & Lloyds set to Strengthen for Customers Mis-sold Derivatives

    Posted on March 9th, 2018 by Jaron Dosanjh

    The door has been opened by the Court of Appeal in PAG v RBS [2018] for misrepresentation claims to be brought by a counter-party to a derivative which is linked to LIBOR, FX or key benchmark where the Swap is […]

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    Property Alliance Group v RBS [2018]: Court of Appeal Opens the Door for Implied Misrepresentation Claims against Banks Mis-selling LIBOR-linked Derivatives

    Posted on March 5th, 2018 by Jaron Dosanjh

    The Court of Appeal (Sir Terence Etherton MR, Longmore LJ and Newey LJ) handed down judgment in the highly anticipated appeal from Asplin J’s decision in Property Alliance Group Ltd v The Royal Bank of Scotland Plc [2016] EWHC 207 […]

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    Letter from the FCA to the Treasury Select Committee detailing FCA powers and regulatory perimeter (30 January 2018)

    Posted on February 6th, 2018 by Jaron Dosanjh

    The Treasury Select Committee has published a Letter from the Chief Executive of the FCA relating to the powers and perimeter of the FCA, dated 30 January. The letter provides a useful outline on the FCA’s regulatory ambit, especially in relation to RBS GRG, embedded […]

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    HM Parliament Condemns RBS GRG’s Parasitic Treatment of SMEs

    Posted on January 26th, 2018 by Jaron Dosanjh

    On 18 January 2018, a Parliamentary backbench motion on RBS’s Global Restructuring Group’s (GRG) systemic failure to protect SMEs has received unanimous Ministerial support in condemning the bank’s parasitic relationship and systematic asset stripping of the British business sector. The debate […]

    RBS’ GRG ‘Just Hit Budget’ Memo: ‘let customers hang themselves’

    Posted on January 19th, 2018 by Jaron Dosanjh

    “Rope: Sometimes you need to let customers hang themselves.” A damning 2009 internal memo entitled “Just Hit Budget!” was published on 17 January by the Treasury Select Committee as MPs ramp up their investigation into RBS’s Global Restructuring Group’s mis-treatment of SME’s. […]

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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

    Posted on November 2nd, 2017 by Sophia Hanif

    In a letter to Treasury Select Committee chair Nicky Morgan MP, Ross McEwan, Chief Executive of the Royal Bank of Scotland Group, speaking about the GRG report, acknowledges that the bank could have “done better” in managing SME customers in financial […]

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