RBS RESPONSE
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In response to this article, an RBS spokeswoman said that, while there was no timetable in place to resolve cases, the regulator expected banks to resolve most within six to 12 months.
RBS previously told CM it was not appropriate for it to comment on individual cases, but in July it issued the following general statement in response to our report that the Clarks' administrator PKF had suggested it had been mis-sold an IRHP. The statement said: "We have agreed with the Financial Conduct Authority that we will carry out a review of the sale of interest rate hedging products to applicable customers. The review will be carried out following guidelines approved by the regulator and will be supervised by an independent reviewer. The review process is designed to be robust and will deliver a fair and reasonable outcome for customers."