Information on FSA direction to Royal Bank of Scotland concerning GRG - August 2026

Please can you confirm if it was the Financial Services Authority itself that directed RBS to move all Ulster Bank customers into GRG with a deadline date issued despite not having defaulted on their loans.

We have considered your request asking whether our predecessor, the Financial Services Authority (FSA), directed Royal Bank of Scotland (RBS) to transfer all Ulster Bank customers into its Global Restructuring Group (GRG). Following enquiries with the relevant business area, we have not identified any information held which confirms that the FSA issued such a direction to RBS. Accordingly, the FCA does not hold information falling within the scope of your request.

We note that issues concerning RBS's Global Restructuring Group have been the subject of published reports, including the Skilled Person's report[1] commissioned under section 166 of the Financial Services and Markets Act 2000 and the FCA's published summary of that independent review[2]. However, neither confirms that the FSA issued such a direction to RBS.