RBS - 15th August - leaked directives and unfair terms

[Amethyst]

15th August - RBS External Risk Newsletter

Quote from RBS - 15th August




''The OFT has written to the test case banks with its preliminary views on the fairness of administration terms. It has told RBS that it has 'serious concerns' that the terms may be unfair. RBS is considering its response. This is a key step towards phase 2 of the Test Case, which is not due to start until early 2009''

[EXC]

Re: RBS - 15th August - leaked directives and unfair terms

I've asked the OFT to clarify if the 'roundtable' meeting they are hosting with the banks and consumer groups is restricted to 'designated' consumer groups - without mentioning how I knew of it of course. Although I'm pretty sure I know what the answer will be.

Which? have told me that they will be attending.

[EXC]

Re: RBS - 15th August - leaked directives and unfair terms

From:EXC
Sent: 20 August 2008 16:53
To: Rob Williamson
Subject: Roundtable

Hi Rob

As Kate Farrow is away at present I wondered if I could redirect this question to you:

I understand that the OFT are hosting a banking industry and consumer group roundtable on 18 September.
Is the meeting restricted to 'designated' consumer groups?

Kind regards

Nick



----- Original Message ----- From: Gover James
To: EXC
Cc: Rob Williamson
Sent: Tuesday, August 26, 2008 12:23 PM
Subject: Roundtable event



Nick

Rob Williamson has forwarded your email below to me as I lead on the market study investigation and report. We are indeed holding a roundtable event on 18 September for banking industry and consumer bodies. The event is to discuss the way forward following publication of the market study report. You will appreciate that there is pressure on space and in order to let everyone who wishes to have their say do so we have had to limit numbers. We have therefore concluded that the only way we can do that is by inviting only those consumer organisations designated under the Enterprise Act to submit super-complaints to the OFT. We therefore hope that we shall get a good cross-section of views that will enable us to move forward in the most effective way. In order to encourage a full and frank discussion of the issues, we have not invited any media representatives to the event.

I realise that this decision will be a disappointment to you, but I do hope you will appreciate the reasons for it. I also hope that you will take the opportunity to respond to the consultation document we issued on 16 July (available on the OFT's website at http://www.oft.gov.uk/shared_oft/reports/financial_products/oft1005con.pdf ).

Kind regards

Gover James


----- Original Message -----
From: EXC
To: Gover James
Sent: Tuesday, August 26, 2008 12:48 PM
Subject: Re: Roundtable event


Gover

Many thanks for your response.

Will minutes of the meeting be available?



Regards

EXC

[Amethyst]

Re: RBS - 15th August - leaked directives and unfair terms