RBS agrees complaints review for SMEs referred to GRG

Royal Bank of Scotland has developed proposals alongside the Financial Conduct Authority to address poor outcomes for some small businesses referred to its Global Restructuring Group between 2008 and 2013: there will be a new complaints review process as well as an automatic refund for complex fees charged to SMEs in GRG. “We agree these are appropriate steps for RBS to take,” said the FCA, but added it “still needs to see further detail about how the scheme will operate”.