The FCA said actions by GRG ultimately fell outside its jurisdiction, as commercial lending is unregulated in the UK. Mitchell claims GRG conspired to push Torex Retail into administration before selling it off at a discount price in 2007. Mitchell filed his legal application for the case against the FCA at the end of October 2018, and says he has more than 530 fellow complainants on board. The FCA refused to comment on Mitchell’s legal application while the decision is pending. We will not comment on the application seeking to review this decision while it is pending.”RBS declined to comment.

Source: The Guardian January 06, 2019 15:47 UTC