In this article, David McIlroy considers the implications of the FCA's announcement that it does not have the power to take action against the Royal Bank of Scotland (RBS) for the failures of its Global Restructuring Group (GRG) department. He analyses potential reforms to the law that could give additional protections to small businesses in their dealings with banks.

David is a barrister practising at Forum Chambers and is Visiting Professor at Queen Mary University of London.