FCA Impotence Over RBS Exposes Gap In Lending Regs
By Richard Crump (August 2, 2018, 10:20 PM BST) -- The inability of Britain's Financial Conduct Authority to punish the Royal Bank of Scotland over the bank's mistreatment of struggling small businesses in its controversial turnaround unit has underscored the need for an overhaul in how commercial lending is regulated in the country, experts say.
Lawyers say the FCA's inability to punish the Royal Bank of Scotland highlights the "patchwork quilt" nature of the regulatory regime in the U.K. (AP) Unlike consumer lending and the sale of investment products, commercial lending to small business borrowers is not a regulated activity. Four years ago, the FCA made an exception to its general...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!