Global Restructuring Group

(asked on 2nd November 2017) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, with reference to the oral evidence given by Andrew Bailey of the Financial Conduct Authority before the Treasury Select Committee on 31 October 2017, if he will make an assessment of the robustness of the methodology adopted by Global Restructuring Group in its valuation of businesses and determination of fees.


Answered by
Steve Barclay Portrait
Steve Barclay
Secretary of State for Environment, Food and Rural Affairs
This question was answered on 7th November 2017

The Financial Conduct Authority (FCA) has published an interim summary of its independent review of the Royal Bank of Scotland’s treatment of small and medium-sized enterprise customers transferred to its Global Restructuring Group. The FCA announced it is investigating the matters arising from the report and focussing on whether there is any basis for it to take further action. It would not be appropriate for the Government to comment further whilst this process is ongoing.

Reticulating Splines