Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, whether he has received any information from UK Financial Investments Ltd in respect of the (a) operation by RBS of its Global Restructuring Group (GRC) as a profit centre for the bank and (b) implications of the operations of the GRC for small business customers of RBS.

We have not received information from UK Financial Investments (UKFI) relating to the operation of RBS’s Global Restructuring Group (GRG) as a profit centre for the bank.

Similarly, we have not received information from UKFI relating to the implications of the operations of GRG for small business customers.

As you are aware, the Financial Conduct Authority (FCA) is currently investigating the operations of GRG in relation to its treatment of business customers in financial difficulty. If the FCA identifies issues which come within its remit, it will consider further regulatory measures.