We're still not getting a clear picture on everything going wrong in banking from the FCA, and to see their ongoing behaviour in the case of RBS and others forcing businesses into whatever they termed remedial measures so they could levy higher fees and even seize assets is nothing short of a disgrace. I'm all in favour of a capitalist approach but going back 5 years it was obvious they were behaving in what's hard to label other than criminally
The FCA has seemingly put more effort into rebranding itself at times than any actual regulatory work. I will confess I've ended up on the wrong side of the FCA on a number of occasions, mostly by dint of representing my employer, but also once more directly myself - though when I ended up in strife myself I would like to note I specifically asked them (or the FSA as it was then) if I could arrange a certain model of business transactions and was told yes. When they later decided I in fact could not I didn't complain, I didn't even complain we had to unwind a sizeable number of transactions, I did however complain when I was fined for not being compliant despite having tried to ensure compliance in advance by checking with them before even starting, that one along with a number of their dispute resolutions I take strong issue with. Too often even when dealing with them it feels like they're ignoring much of what's happening, box ticking for I assume some justification of their existence, and then massively over reacting to some small issues having ignored many much larger problems.
In the case of RBS and GRG there are still many individuals and families with their lives in ruins as a consequence of the behviour of RBS, and I think I'm right in saying not only has compensation not always been applied but also no one is even in jail.
http://www.bbc.co.uk/news/business-43127926