Tag: RBS

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

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…

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HM Parliament Condemns RBS GRG’s Parasitic Treatment of SMEs

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…

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

“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…

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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

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…

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Data Protection Act (DPA) Subject Access Request (SAR) to Obtain Personal Data Held by RBS GRG, Promontory, Mazars, the FCA and the BBC

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…

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The Lawyer: ‘Charity gains ground in RBS and NatWest mis-selling claim’

The Lawyer reports: Not-for-profit organisation Wenta has gained ground in its case against DLA Piper clients NatWest and the Royal Bank of Scotland for which it is now…

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Court of Appeal to consider permission to appeal in PAG v RBS

Property Alliance Group Ltd (“PAG”) has recently filed leave to appeal to the Court of Appeal against a decision of Mrs Justice Asplin in the High Court in…

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The Times: Lawyers launch petition for financial mis-selling tribunal

The Times Brief reports that we have launched an online petition in an attempt to apply public pressure on banks to settle compensation claims for financial product mis-selling.…

Petition: Establish a Financial Services Tribunal to resolve customer disputes.

Major banks and other financial services institutions are often in dispute with customers who deserve protection. Access to court is costly. The FOS ombudsman scheme is inadequate. The…

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GRG WestRegister took 80% Equity in Bowlplex – Cost Owners £50m; while RBS Profited £9m

RBS’s Global Restructuring Group (GRG) has faced allegations of destroying small businesses. LexLaw has sued RBS on behalf of many businesses including Bowlplex, a family-owned bowling business, claiming excessive fees, increased interest rates, and forced equity transfer. Despite a viable business, Bowlplex was transferred to GRG and ultimately sold on by RBS for a £9m profit and a £50m loss for the owners.