Presentation of Motion to Backbench Business Committee - 31 October 2017

The treatment of SMEs by RBS’ GRG and how does the current system fail to protect businesses?</

That this House is appalled at the conduct that has recently been exposed concerning the treatment of small and medium-sized enterprises (SMEs) by the Global Restructuring Group (GRG) unit of the Royal Bank of Scotland (RBS); notes that there are wider allegations of malpractice in financial services and related industries; believes that this indicates a systemic failure to effectively protect businesses, which has resulted in financial scandals costing tens of billions of pounds; believes that the solution requires the collective and collaborative effort of regulators, parliament and government; and calls for an independent inquiry into practices in respect of the treatment of SMEs and the protections afforded them, and the rapid establishment of a tribunal system to effectively deal with financial disputes for businesses.

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