SRA decides against Clifford Chance investigation over RBS report complaint

Regulator finds no evidence of potential misconduct by firm in report on bank's controversial global restructuring group

The Solicitors Regulation Authority (SRA) has decided not to take action against Clifford Chance (CC) following allegations that the magic circle firm overlooked fraud during its investigation into the Royal Bank of Scotland’s (RBS) treatment of small companies in 2014.

The allegations centred around CC’s report on the bank’s global restructuring group (GRG), which was commissioned by RBS following allegations that the group was culpable for “systematic and institutional” poor behaviour in artificially distressing viable UK small and medium-sized businesses.

This premium content is reserved for
Legal Week Subscribers.

Subscribe today to get ALL ACCESS!

A premium subscription gives you access to all articles and provides:

  • Trusted insight, news and analysis from the UK and across the globe
  • Connections to senior business lawyers within the leading law firms and legal departments
  • Unique access to ALM’s unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week’s UK Top 50 and Global 100 rankings
  • The Legal Week Daily News Alert, Editor’s Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
  • Optimized access on all of your devices: desktop, tablet and mobile
  • Complete access to the site’s full archive of more than 56,000 articles

Subscribe Now For All Access

For enterprise-wide or corporate enquiries, please contact Paul Reeves on or call on +44 (0) 203 875 0651