A debate highlighting the treatment of small firms by the Royal Bank of Scotland (RBS) Global Restructuring GroupJump to full report >>
This backbench business debate is sponsored by Clive Lewis MP. It has been called to highlight the treatment of small firms that were referred to the Global Restructuring Group – a division of RBS - which dealt with small companies that were in financial difficulty. Many such firms feel that they were treated very poorly and their businesses suffered often fatal consequences at the hands of a group which had conflicted incentives. There has been a very lengthy period of enquiry, at least four separate investigations by different bodies, into what happened, including one on behalf of the FCA by a ‘skilled person’ Promontory. The FCA’s final Report is still awaited. Elements of the Interim Report have been contested by RBS.
Commons Debate packs CDP-2017-0235
Author: Tim Edmonds