By James HurleyOctober 26 2018, 12:01am, The TimesAn influential group of MPs has called for a drastic overhaul of Britain’s approach to small business lending after the “scandalous” treatment of companies at the hands of big banks. The Treasury select committee said commercial...
By James HurleyOctober 24 2018, 12:01am, The TimesAn independent review commissioned by the banking industry has warned the government against adopting proposals from MPs and the City regulator for a new tribunal system to help small companies resolve disputes with lenders. The...
By James HurleyOctober 17 2018, 12:01am, The TimesThe City regulator said that the Financial Ombudsman Service would be extended from April next year, so more companies can seek redress if they believe that they have been mistreated by their financiers. Businesses with annual sales...
The co-chair for the AAPG for Fair Business Banking, Kevin Hollinrake, calls for a full public enquiry into the mistreatment of SMEs by RBS and its ‘restructuring’ division, also known as GRG. www.conservativehome.com
Warwick Risk Management is assisting a number of NHS Medical Centres whose GP practices have been subjected to swap mis-selling by RBS. Today The BMJ published an excellent article on the subject. Visit the article at The BMJ: http://www.bmj.com/content/359/bmj.j5137 The BMJ Written by,...
The APPG criticises voluntary redress schemes set up by financial institutions and instead calls for an independent, quasi-judicial dispute resolution system between businesses and banks. This will level the currently uneven playing field, allowing businesses greater access to justice....
Statement regarding the leaked FCA S166 report on RBS’s Global Restructuring group. Importantly, the leak corroborated the Tomlinson report, Buzzfeed and the BBC, outlining that GRG targeted profitable businesses for destruction. The APPG calls for the full release of the report. Statement...
Michelle Thomson MP (Edinburgh West, Independent) quoted Nick Stoop’s analogy comparing RBS’s swap mis-selling to the hunting tactics of the Komodo dragon at the House of Commons backbench business debate: “Creation of a commercial financial dispute resolution platform”. The quote was in...
The SME Alliance, a not-for-profit group representing the interests of private companies, presented documents to the FCA relating to the alleged falsification by banks of customers’ records, including within the FCA-sponsored review of the mis-selling of interest rate hedging products. The SME...
The Financial Conduct Authority (FCA) should be stripped of its powers to fine and ban individuals for wrongdoing, according to a report by MPs, according to an article in today’s Guardian. Andrew Tyrie, chair of the Treasury select committee, described the FCA as “work in progress” and noted...
