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Dash for cash

swynn
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Re: Dash for cash

#81717

Postby swynn » September 18th, 2017, 10:10 am

"Entrepreneur slams watchdog’s refusal to publish leaked RBS report"

http://www.thebusinessdesk.com/yorkshir ... rbs-report

swynn
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Re: Dash for cash

#81849

Postby swynn » September 18th, 2017, 5:18 pm

Andrew Bailey has contradicted himself. He told the TSC in 2016 before he had seen the s 166 report, that he intended to publish it. He is now saying that he never intended to publish it.

swynn
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Re: Dash for cash

#82407

Postby swynn » September 21st, 2017, 9:46 am

TSC meeting 20 July 2016:

"John Mann: Can we expect more reports on GRG to be forthcoming?
Andrew Bailey: Yes, you will get a report on GRG.  I cannot tell you when at the moment. It is heavily underway. 
Q48 John Mann: This year?
Andrew Bailey: I hope so." 

swynn
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Re: Dash for cash

#82408

Postby swynn » September 21st, 2017, 9:46 am

The BBC has turned down my FoI request, so I am proceeding to the ICO.
Last edited by swynn on September 21st, 2017, 9:55 am, edited 4 times in total.

swynn
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Re: Dash for cash

#82693

Postby swynn » September 22nd, 2017, 12:01 pm

It seems to me highly dangerous for Andrew Bailey not to comply with requests of the TSC. He could be guilty of contempt of Parliament and lose his job.

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Re: Dash for cash

#82772

Postby swynn » September 22nd, 2017, 4:35 pm

If the TSC allows the s 166 report to remain unpublished, it will show itself to be weak/feeble/pathetic. So it needs to do something drastic, which is a crisis situation.

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Re: Dash for cash

#83152

Postby swynn » September 24th, 2017, 2:31 pm

This situation is unsustainable. Bailing out RBS cost us £45 bn. So we have a right to know what's going on. But the FCA is trying to fob us off with summaries.

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Re: Dash for cash

#83158

Postby Itsallaguess » September 24th, 2017, 3:11 pm

swynn wrote:
This situation is unsustainable.


Is there a thread-limit we're about to hit?

:lol:

Itsallaguess

swynn
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Re: Dash for cash

#86247

Postby swynn » October 6th, 2017, 10:14 am

I have heard from the ICO about my FoI case. So they are getting on with it, which is encouraging.

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Re: Dash for cash

#87228

Postby swynn » October 10th, 2017, 4:53 pm

The ICO is saying that in my case it does not have jurisdiction. I can challenge this. But it seems impossible for me to argue about what is the jurisdiction of the ICO. I am not 100% sure and would like a second opinion. If some kind person would write to me at stephenwilliamwynn@gmail.com, I will send details. There is a deadline 16 October.

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Re: Dash for cash

#89804

Postby malkymoo » October 21st, 2017, 6:16 pm

Looks like the police are taking an interest:

http://www.bbc.co.uk/news/business-41698415

swynn
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Re: Dash for cash

#92914

Postby swynn » November 3rd, 2017, 2:44 pm

My FoI request to the BBC is still ongoing. I am up against the problem that it has a derogation from the FoI Act. Apparently the BBC does not provide information to individuals, only in broadcasts and on its website. The output of the BBC has to be decided by BBC experts, not by any old Tom, Dick or Harry. BBC transparency was recently debated in Westminster Hall: 

https://hansard.parliament.uk/Commons/2 ... ansparency

“The information that you have requested is excluded from the Act because it is held for the purposes of ‘journalism, art or literature.’ The BBC is therefore not obliged to provide this information to you and will not be doing so on this occasion.”

I had exactly the same reply. This is saying they don't provide information to individuals making FoI requests, because they need it to provide information in broadcasts.

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Re: Dash for cash

#99204

Postby swynn » November 27th, 2017, 12:16 pm

The FCA put people off for years by saying several times it intended to publish the s 166 report, then switched to saying it did not and never had intended to  publish. From the TSC hearing 31  October 2017:

"Q23 .. The reports may, subject to Sections 348 349 of FSMA, be made public.  The skilled person should draft reports in such a way that the contents can be published without the disclosure of confidential information to third parties.”  What is the reason for the discrepancy from what would appear to be an intention to publish to no intention to publish? 

Q57  ... On the first one, 'RBS did not set out to artificially engineer a position to cause or facilitate the transfer of a customer to GRG,'  do you have a view on that?  Do you agree with that or disagree?

Andrew Bailey: The general thrust of the Promontory report is that there was not a deliberate policy, as has certainly sometimes been alleged in other publications.  There was not a conspiracy to put people into GRG."

This is very brief.  the Tomlinson report had a whole chapter on this topic "4 Engineering a default". My conclusion is that the topic of RBS/GRG wrongdoing is beyond the TSC to cope with. It is also beyond the FCA or Promontory. It is a topic for the police.

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Re: Dash for cash

#103122

Postby swynn » December 10th, 2017, 10:46 am

The FCA s 166 report about RBS/GRG has been leaked not only to the BBC and Noel Edmonds, but also apparently to the Mail on Sunday:

http://www.dailymail.co.uk/money/news/a ... -unit.html

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Re: Dash for cash

#111903

Postby swynn » January 19th, 2018, 3:53 pm

This issue of the publication of the leaked FCA s 166 report about RBS/GRG is separating the sheep from the goats. Vince Cable is a sheep. He finds the non-publication "disgusting". Nicky Morgan is a goat. She finds it acceptable.

https://hansard.parliament.uk/Commons/2 ... oupAndSmes

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Re: Dash for cash

#112872

Postby swynn » January 23rd, 2018, 7:56 pm

Prem Sikka is a sheep. He wants full publication:

https://twitter.com/premnsikka/status/9 ... 6417669120

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Re: Dash for cash

#113516

Postby swynn » January 26th, 2018, 4:32 pm

How does the Dash for Cash scandal square with the FCA's treating customers fairly (TCF) "priority"?

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Re: Dash for cash

#113535

Postby GoSeigen » January 26th, 2018, 5:40 pm

swynn wrote:How does the Dash for Cash scandal square with the FCA's treating customers fairly (TCF) "priority"?


swynnn, have you see the Complaints Commisioner's final decision on Mark Taber's complaint about the FCA/Lloyds noteholder issue? It's here:

http://frccommissioner.org.uk/wp-conten ... -10-17.pdf


GS

swynn
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Re: Dash for cash

#113833

Postby swynn » January 28th, 2018, 4:19 pm

The decision notice says: "the substantive, practical consequences arising from these issues have been overtaken by the Supreme Court decision of June 2016 in LBG’s favour" So it seems Mark Taber is asking the Complaints Commissioner to contradict the Supreme Court. Which has turned out to be over-optimistic. Which is unfortunate. Because in my opinion he has an open and shut case.

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Re: Dash for cash

#114801

Postby swynn » February 1st, 2018, 9:50 am

"Mr McEwan admitted it was "not right" for him to have said in 2014 that the "vast majority of firms" were turned around by GRG. Only one tenth of the thousands of businesses transferred to GRG between 2008 and 2013 returned to normal banking, the Promontory report found which RBS now accepts."

Jon Pain is also saying the "vast majority of firms" were turned around by GRG. I quoted him in the BBC File on 4 programme Default by Design? He is just making up cobblers. e.g.:

*The vast majority of businesses, as I’ve talked about in GRG, we’re able to support through that process and only 10% of those businesses actually fail in terms of having to go through to insolvency."

"rather than achieve a firesale or sell into a negative market, West Register offers the opportunity to hang onto those properties, and manage them for a period of time in the hope that you can sell into a better market."


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