A SIPP is a Self Invested Personal Pension, and as the name suggests, allow the holder a wide degree of freedom to invest in different types of investments. The SIPP itself is simply a wrapper for the investments within it which can be FCA regulated products such as unit trusts, shares, bonds and gilts and also more risky, unregulated products including collective investment schemes and property investment schemes (UK and overseas). A SIPP can be […]
Payment Scams and Fraud – to what extent is a bank responsible?
April 7th, 2017
Payment scams and fraud are of regular concern now to consumers and small businesses who often feel that their bank could and should have done more to prevent, often substantial amounts of money, being extracted from them by fraudsters. We regularly advise businesses facing such difficulties on the extent to which they have legal recourse against their bank. There are a number of types of law to consider in this area. In terms of […]
RBS announce complaints procedure for GRG customers
November 8th, 2016
In advance of full publication of the report by Promontory, commissioned by the FCA into the treatment of customers within RBS’s Global Restructuring Division, RBS have today announced that they are commencing a new complaints procedure and fee refund, for SME customers. Full details are available on RBS’s website (http://www.rbs.com/news/2016/november/GRG.html) and affected businesses should review this link. In summary, there are two elements to the process, the first being an automatic refund of certain categories […]
RBS GRG Complaints Update
September 14th, 2016
Businesses are still awaiting the publication of the independent report, commissioned by the FCA, into the treatment by RBS of customers in financial difficulties. The report is being carried out by Promontory Financial Group and Mazers and will look at alleged “poor practices” by the bank’s Global Restructuring Group (GRG). Claire Collinson Legal has advised numerous RBS business customers since 2010 on these issues. Complaints we have encountered include forced sale of assets, excessive charging […]
