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Dispute Resolution Blog

Interest Rate Swaps: Cat MacLean quoted in the press

 In a busy week following the admission by four major banks that mis-selling had taken place in relation to the sale of complex financial products to small businesses, Cat MacLean has been quoted in The Herald by Simon Bain and Ian Fraser on the issue once again.http://www.heraldscotland.com/news/home-news/scots-firms-due-millions-after-banks-mis-selling.18018406http://www.heraldscotland.com/news/home-news/the-wages-of-sin.18023332
  965 Hits
965 Hits

FSA Initial Review of Mis-selling of swaps to SMEs to be published this Friday

FSA Initial Review of Mis-selling of swaps to SMEs to be published this FridayPosted on Jun 24, 2012 by Cat Maclean  | 0 CommentsFSA initial review of misselling of swaps to SMEs to be issued this Friday.A formal regulatory investigation into how thousands of small and medium-sized businesses came to be sold complex interest rate derivatives is likely to begin after the publication of FSA’s initial review on Friday 29th June. It is hoped that one of the consequences of the review may be that the banks will come under pressure to agree to a voluntary compensation scheme for victims.A report...
  1415 Hits
1415 Hits

Pressure on Banks Increases over Interest Rate Swaps: Cat MacLean Quoted in Press

 On a key day in the development of the investigation into the alleged mis-selling of complex financial products to businesses, each of Barclays, HSBC, Lloyds Banking Group and RBS have admitted responsibility in the face of an investigation by the FSA. Cat MacLean has provided analysis to The Scotsman newspaper today on the issue:http://www.scotsman.com/business/banking/interest-rate-swaps-the-latest-focus-of-banking-investigation-1-2382385  MBM Commercial has a significant number of clients who believe they have been mis-sold swaps and greatly welcomes the long awaited FSA finding of misselling by UK’s major banks.For more detailed commentary on the story as it develops, please visit our Banking Disputes Blog.
  938 Hits
938 Hits

Interest rate swaps - Grant Estates update

Interest rate swaps - Grant Estates updatePosted on May 31, 2012 by Liina Tulk  | 0 CommentsGrant Estates updateDuring the last two days of the debate, Mr Iain Mitchell QC for the Grant Estates has had the floor. Yesterday, Mr Mitchell explained that the Pursuer’s submission is that the regulatory regime, correctly construed, prevents RBS from arguing that the contract in question was execution only, as opposed to a contract for advice. Under the Regulatory regime, Mr Mitchell continued, if a bank gives advice, the contract in question becomes a contract for advice, regardless of whether it started off as an...
  1041 Hits
1041 Hits

RBS faces further accusations over interest rate swaps

RBS faces further accusations over interest rate swapsPosted on May 28, 2012 by Cat Maclean  | 0 CommentsRBS faces accusers over interest rate swaps, writes the HeraldWriting in the Herald this morning, Simon Bain reports that Royal Bank of Scotland is facing a call to "come clean" at its annual meeting in Edinburgh tomorrow on the number of interest rate swap agreements (IRSAs) it has sold to small businesses across the UK.Further pressure is likely to be heaped upon the beleagured bank at the AGM tomorrow when the organisation "Bully Banks" mounts a visual presence outside the bank's headquarters at Gogarburn...
  1592 Hits
1592 Hits

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