UK Edition
Police looking into controversial RBS unit
Police are looking into a complaint against the Royal Bank of Scotland’s controversial business restructuring division. The complaint is understood to have been made by an individual over alleged misconduct at the bank's under-fire Global Restructuring Group.
The division, set up to help ailing business customers, has previously been accused of helping push firms under after the financial crisis in order to take over their assets more easily.
RBS said Police Scotland was "reviewing" a complaint and it would co-operate with any request for information. Officers have not yet launched a formal investigation.
Meanwhile, the BBC said it had obtained a memo written by a GRG employee which appeared to show staff were incentivised to extract money from struggling firms.
The bank told the corporation the language in the leaked memo - written in 2009 by a junior manager who has since left the company - was "wholly inappropriate”.
It is said to talk about staff extracting revenues from struggling small business customers, instead of trying to cut the clients' debt and return them to health. One line says: "No deal, no way. Missed opportunities will mean missed bonuses."
The UK's financial watchdog, the Financial Conduct Authority (FCA), has told the BBC it plans to publish a report into those allegations before the end of the month.
Nicky Morgan, chairman of the Treasury select committee, has threatened to use parliamentary powers to force disclosure of the full report.
A spokesman for the bank said: "RBS has recently become aware that Police Scotland are reviewing an individual complaint made against the bank. RBS is not privy to any details but will cooperate with any request for information made by Police Scotland."