Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the oral contribution of the Parliamentary Under-Secretary of State for Business, Energy and Industrial Strategy of 7 November 2017, Official Report, column 1323, on Royal Bank of Scotland: small business customers, what discussions he has had with the Financial Conduct Authority on the timetable for the Authority to report on its conclusions.
My rt. hon. Friend the Secretary of State recently met representatives of the Financial Conduct Authority (FCA) to discuss a range of issues, including the FCA’s review of the treatment by Royal Bank of Scotland of small and medium-sized enterprise customers referred to the bank’s Global Restructuring Group. Andrew Bailey, FCA Chief Executive, has commented “We are investigating the matters arising from the Skilled Person’s Report and are focussing on whether there is any basis for further action within our powers.”