I'd be interested to know what actions are being prepared against RBS and Barclays, as stated very happy to share info as to where we are going with it. Found so far the Collyer Bristow report by Stephen Rosen useful on this subject, which gives useful info I think when navigating around the FSA rules handbook.

We're quite a long way down the road with the FOS on exactly this issue with what sounds like a very similar dispute, with RBS Natwest. Happy to share info. We are fairly pessimistic so far with the FOS response and think you are exactly right in the divide and conquer approach being used. I suspect that there are many thousands of people and businesses in our position. I also think a class action of some kind would have a more powerful impact, otherwise like many others it is going to cost us many thousands for trusting our banks all those years ago when we all thought a hedge was what you had at the bottom of your garden.