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Court documents allege clashes inside RBS over 2008 toxic assets

November 17th, 2016 (No Comments)

Royal Bank of Scotland (RBS.L) bosses avoided repricing billions of dollars of souring investments on the eve of the 2008 financial crisis for fear of endangering bonuses and a takeover bid for a rival, court documents allege. The claimants’ filings allege senior managers were warned by internal risk experts for more than six months that overvalued […]

Call for Scots unity over single market membership

November 13th, 2016 (No Comments)

The Scottish government is to ask opposition parties to unite behind it while lobbying the UK government over single market membership post-Brexit. Economy Secretary Keith Brown will lead a debate at Holyrood on Tuesday seeking unanimous support for market access. He called the EU a “vital trading body” for Scotland, asking the UK to “explore all avenues […]

New Libor disclosures in court

November 11th, 2016 (No Comments)

The Bank of England attended a meeting in which senior executives of major banks discussed inaccurate Libor rates, at the start of the credit crunch, according to an email cited in court. The BoE warned the bankers not to discuss the meeting in public, according to the email. The email suggests the executives acknowledged Libor […]

RBS Launches a New Complaints Process and Refund of Complex Fees

November 10th, 2016 (No Comments)

RBS is today announcing, with the agreement of the FCA, a new complaints process, overseen by an Independent Third Party – Sir William Blackburne, a retired High Court Judge – and an automatic refund of complex fees paid by SME customers in GRG during the relevant period. RBS is also responding to the FCA’s update […]

Spy agency GCHQ investigates Tesco Bank cyber theft amid fears it was ‘state sponsored’

November 9th, 2016 (No Comments)

Tesco has enlisted the help of spy agency GCHQ to assist its investigation of what is the most serious cyber attack ever launched against a British bank. The supermarket giant contacted the National Cyber Security Centre (NCSC), a new part of GCHQ that tackles crime online and opened last month, after it learned of the theft […]

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