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...

Alexandra Rogers reports on the Former business secretary Sir Vince Cable’s comments on the Financial Conduct Authority (FCA). He described the FCA as using Maxwellisation – a process whereby individuals criticised in an investigation are given the chance to respond – to “hold up” the...

Flagging a “large number of investigations”, Mark Steward, the head of enforcement at the Financial Conduct Authority, pledged to use the “full intention” of rules that cover the laundering of ill-gotten gains. These rules were recently enhanced to allow the watchdog to use both its criminal...

Prem Sikka, a Professor of Accounting at University of Sheffield, outlines why the audit industry needs change. Leftfootforward

Bloomberg reports that the Financial Conduct Authority employed seven staff to interview whistle-blowers, assess their information and pass details to other parts of the agency in 2018, according to figures released under freedom of information rules. At a cost of 500,000 pounds ($658,750), the...

Ruth Sunderland calls for an investigation to be launched, not only into its own behaviour regarding LCF, but also into whether the rules covering mini-bonds give consumers adequate protection. Thisismoney.co.uk

Royal Bank of Scotland is aiming to wind down the remainder of about £1bn in controversial bank loans held by local authorities across the country, after criticisms that high payments have diverted cash from council services. (The Guardian)

Common Space has reported on City of Edinburgh Council utilisation of the ‘statutory override’, which is a legal mechanism to waive compliance with international accounting standards. Statutory overrides are used in councils Lobo loans with RBS, which due to changes in international accounting...

Paul Rogerson express his distain at the banking lobby striving to thwart the establishment of a Financial services tribunal for SMEs ill-treated by their lenders. At WRM we believe the only way forward when dealing with banking abuses is an independent tribunal. Law Gazette

Kevin McKenna of the Guardian reports on John Guidi, bankrupted by mis-sold loans, who today starts a hunger strike outside the Clydesdale Bank’s headquarters The Guardian