The Financial Conduct Authority (FCA) said taking action was "always going to be difficult and challenging" because the business of GRG
was largely unregulated.
Derek Sach, who ran GRG
, was until recently advising private equity firm Stephen Hester, chief executive at time, now heads insurer RSA.
Software develops and distributes software for home and business users internationally.
Although the Financial Conduct Authority (FCA) recently concluded that RBS did not "artificially engineer" the transfer of customers to GRG
, RBS acknowledged that it could have done better for these customers.
(2010) defined the following by using the standard deviation of the GRG
to find the lower and upper limits of the grey relational grade (GRG
): Considering the standard deviation of the grey relational grade as
A spokesman said that GRG
's role was key to helping the bank face up to its commercial property "mistakes" made in the run up to the financial crisis.
FURIOUS MPs tore into the City watchdog yesterday, branding its final report into RBS' disgraced turnaround unit GRG
a "complete whitewash".
The Financial Conduct Authority (FCA) said it had concluded its powers to discipline anyone for misconduct do not apply and added that action against senior management in the global restructuring group (GRG
) for lack of fitness and propriety "would not have reasonable prospects of success".
They have so far offered a total of PS125million to victims of GRG
, the now defunct turnaround unit who have been accused of pushing firms towards failure in the hope of picking up assets cheaply.
Investors are expected to probe RBS executives about alleged mistreatment of small business by its now-defunct turnaround unit Global Restructuring Group (GRG
M2 EQUITYBITES-November 9, 2016-RBS to compensate small firms in GRG