NatWest Corporate & Commercial Banking - RBS in disguise

Interestingly if you scratch the thinnest vineer from Nat West you get RBS



We have several interesting cases and we are looking for more

Contact Natwest@rabf.org.uk

Two HSBC directors quit in protest over new conduct rules - the fear of jail!

Two board members at HSBC’s UK unit are preparing to quit as part of a growing pushback against stiff new rules that would jail reckless bankers. 

 

The moves come two months after regulators unveiled proposals for a new regime to stamp out misconduct in the City, which came in the wake of the Libor rate-rigging scandal and the collapse of Royal Bank of Scotland and HBOS.

Responding to the departures, Andrew Tyrie MP, chairman of the Treasury Committee and a driving force behind the new regime, said: “The crisis showed that there must be much greater individual responsibility in banking. A buck that does not stop with an individual often stops nowhere.”

 The move underlines the disquiet in the City over the tougher stance taken by UK regulators in the wake of the financial crisis. Some senior finance executives are warning that more directors could quit over the new regime, which is much tougher than any equivalent in the US or Europe.

http://www.ft.com/cms/s/0/a237eb26-4e12-11e4-bfda-00144feab7de.html?siteedition=uk#axzz3FXM8JLwv

British City banker pleads guilty to fraud securing first conviction in investigation

A senior banker at a British bank has pleaded guilty to charges over the rigging of the Libor interbank lending rate.

The unnamed banker who is currently on bail pleaded guilty to one count of conspiracy to defraud as part of the Serious Fraud Office's (SFO) investigation into alleged Libor rate manipulation.

A sentence will be handed down to the banker in due course after pleading guilty on Friday at Southwark Crown Court. The banker can not be named for legal reasons.  

http://www.cityam.com/1412675109/london-city-banker-pleads-guilty-libor-rate-manipulation

RBS admitted it was wrong, but still won’t compensate

RBS has admitted it was at fault but is yet to put things right. It seems to be another case of a big bank ignoring the plight of at-risk customers.







Derby-based Direct Help and Advice accused RBS of costing it at least £150,000 by mis-selling an interest rate hedging product.

 

The charity – which helps people at risk of being made homeless – had its mis-selling claim hearing in August 2013, but by the turn of the year was still waiting for a decision, forcing it to warn that it might have to shut down some of its services or close altogether, putting 40 staff out of work. After our article, the bank agreed it had mis-sold the product and handed over £150,000. But since then it has dragged its feet over compensation.

ADMIN: THE ONLY WAY TO GET JUSTICE AND RECOURSE IS TO USE THE FRAUD ACT 2006 AGAINST NAMED INDIVIDUALS

http://www.independent.co.uk/money/loans-credit/rbs-admitted-it-was-wrong-but-still-wont-compensate-9774264.html

Sale of Goods Act 1979 - The only legal protection for an asset based finance contract - maddness

The Sale of Goods Act 1979 is the only legal protection that is available for asset based finance contract.  The same act that covers pawn brokers to buying a bag of sweets - Why would any one sign their company and their house over to any factoring company with no one to complain too? Greed and Maddness

 

Part II Formation of the Contract
Contract of sale
2 Contract of sale.

(1)A contract of sale of goods is a contract by which the seller transfers or agrees to transfer the property in goods to the buyer for a money consideration, called the price.

(2)There may be a contract of sale between one part owner and another.

(3)A contract of sale may be absolute or conditional.

(4)Where under a contract of sale the property in the goods is transferred from the seller to the buyer the contract is called a sale.

(5)Where under a contract of sale the transfer of the property in the goods is to take place at a future time or subject to some condition later to be fulfilled the contract is called an agreement to sell.

(6)An agreement to sell becomes a sale when the time elapses or the conditions are fulfilled subject to which the property in the goods is to be transferred.

Continue reading http://www.legislation.gov.uk/ukpga/1979/54

Demostration at the prestigous Finance Professional Show 5th November 2014

  - Register as a delegate - 

 5th November 2014, Olympia Central

After last years highly successful deomstration at Parliament - the Finance Professional Show is where some of the worst factoring companies show their wears to entrap others in the this totally unregulated industry

Please register at the show to gain entrance- http://www.financeprofessionalshow.co.uk/visitors/register/

contact RABF at demostration2014@rabf.org.uk if you are coming - it will be an interesting day

P and A Associates - enquiries keep coming in after the second BIS raid

There have been a number of enquiries with respect to the P & A Associates from a number of individuals since the raid by BIS supported by the police.

 

we are considering set up a conference in Sheffield to move to the next stage with what has been going on at this insolvency practitioner - which is clealy worying.

Please contact ourselves at PandA@rabf.org.uk