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RBS Review, EU Bank Trading Ban, OTC Trades at HKEx: Compliance 

January 22, 2014
Carla Main, Bloomberg

The U.K. markets regulator appointed two firms to investigate allegations that Royal Bank of Scotland Group Plc pushed small businesses into default.

Promontory Financial Group LLC, a consulting firm, and the accountant Mazars will review RBS’s treatment of business customers in financial difficulty that was highlighted in a report of the bank last year, the Financial Conduct Authority said in a statement Jan. 17.

State-owned RBS charged companies advisory fees and bought their assets at reduced prices once they were in default, government consultant Lawrence Tomlinson said in a report published in November. The regulator will publish the findings in the third quarter.

Read more: Bloomberg

 

 
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