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It’s time the Crown Office reopened its Royal Bank inquiry

In Article Library by Ian Fraser

By Ian Fraser Published: Daily Record Date: 12 October 2016 The former Lord Advocate, Frank Mulholland, said in May that, after a five-year probe, there was “insufficient evidence” to charge RBS executives over their stewardship of the bank. However, the Crown Office said its investigation could be reopened should fresh …

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Making it happen

In Article Library by Ian Fraser

By Ian Fraser Published: Bella Caledonia Date: 11 October 2016 We all know that the Royal Bank of Scotland went rogue under Fred Goodwin. What was less clear – until yesterday anyway – was that, eight years after it was saved from oblivion thanks to Gordon Brown and Alistair Darling’s …

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Open Letter to Nicola Sturgeon—are bankers ‘above the law’?

In Blog by Ian Fraser0 Comments

4th March 2016 [UPDATED 10TH MARCH 2016 TO INCLUDE A STATEMENT FROM POLICE SCOTLAND] It is increasingly apparent that our supposedly “independent” prosecutorial agencies — which include the Crown Prosecution Service in England and Wales, and the Crown Office and Procurator Fiscal Service in Scotland — are useless when it …

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Businesses trashed by RBS ‘vampire unit’ refuse to co-operate with FCA appointed sleuths

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date: 4 October 2015 Businesspeople who claim to have been ruined by RBS’s Global Restructuring Group are refusing to co-operate with a firm hired by the Financial Conduct Authority to investigate the scandal, potentially derailing the probe into the bank’s so-called “vampire unit”. The …

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Was Mallett thrown to the wolves to save BoE’s skin?

In Blog by Ian Fraser1 Comment

November 12th, 2014 Guest Post by Rowan Bosworth-Davies One of the major unexplained elements in the foreign exchange (forex) rigging case is the level of knowledge of manipulative activity possessed by the Bank of England. If it, as a leading market participant and a regulator, had prior knowledge that the forex …

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Hard hats for bankers

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Business Quarter (BQ) Date: 13 October 2014 At a dinner to mark the departure of chief executive Stephen Hester in September 2013, the Royal Bank of Scotland’s finance director Bruce van Saun gave Hester’s anointed heir, Ross McEwan, an unusual present. Hester, a keen horseman, had …

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A true rebranding … or lipstick on a pig?

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Mail on Sunday (Scottish edition) Date: 17 August 2014 RBS’s decision to scrap the three-letter acronym it has used for eleven years and assert its heritage by readopting the Royal Bank of Scotland title and refurbishing branches with a “heather, tartan and tweed” theme will get …

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Ross McEwan: “RBS is a yacht with a spinnaker up”

In Blog by Ian Fraser0 Comments

July 13th, 2014 On 2 May 2014, the Royal Bank of Scotland’s New Zealand-born chief executive, Ross McEwan, unveiled a surprisingly strong set of financial results for the bank that he has led since 1 October 2013. But has it really turned the corner? McEwan the and RBS’s outgoing finance …

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Shredded Tweets

In Blog by Ian Fraser0 Comments

July 7th, 2014 Here is a selection of tweets about Shredded: Inside RBS The Bank That Broke Britain which was published by Birlinn Books on 6 June (a few other Shredded Tweets are posted here). I’d like to thank all the senders of these messages for buying the book, reading it, and …

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The FCA no less ‘captured’ than its predecessor

In Blog by Ian Fraser2 Comments

June 27th, 2014 (minor edits Oct 3rd) The Financial Conduct Authority, established in April 2013, has failed its first test. Its review of the interest rate swaps that were sold on an industrial scale by banks to gullible small business customers, especially in 2004-08, has fallen short on a number of fronts. …

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RBS job advert casts doubt on the assertions of Sach

In Blog by Ian Fraser0 Comments

June 26th, 2014 The Royal Bank of Scotland seems to be rather confused over whether its infamous Global Restructuring Group is run as a “profit centre”. A job advertisement placed by the bank in January 2014, clearly states that the “role purpose” of relationship managers within GRG is to be …

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RBS’s annual meeting was more placid than usual

In Blog by Ian Fraser0 Comments

26 June 2014 The Royal Bank of Scotland, which last year made losses of £8.2 billion, held its annual general meeting yesterday. The shareholders’ gathering was a slightly calmer affair than some of the recent ones I have attended. Held at the bank’s sprawling, campus-style “world headquarters” at Gogarburn, near Edinburgh – itself a …