RBS FSMA 2000 Part VII transfer to BNP
Further to our recent broker and investor communications we can now confirm that the transfer of the structured products from RBS to BNP that was sanctioned by the Court of Session in Scotland on 19 November, took effect at at 00:01 (GMT) on 7 December 2015.
Information regarding the transfer is available on the RBS website, which can be accessed by clicking here.
Updated copies of the 'Notification to Investors' and 'Frequently Asked Questions for Investor Products and Equity Derivatives ('IPED') Retail Clients' documents that have previously been issued to all effected parties can be accessed from the RBS website.
Amongst the assets to be transferred are all of the 'live' structured deposits which Meteor has issued and act as Plan Manager for. Investors are now covered by the French DGS compensation scheme rather than the UK FSCS in the event of BNP's failure to make any payments due from the deposits.