The following article has been published in today’s Sydney Morning Herald.
NAB is cleaning up its mess….but it hurts 
After a series of scandals, a string of losses, a damning parliamentary report and a damaged reputation, National Australia Bank has run the white flag up in Britain. It is surrender that will come at a great cost.
To extricate itself from the British mess, the Prudential Regulation Authority has insisted it set aside £1.7 billion to ensure there is enough money to cover future potential compensation payments to victims of the bank in Britain that are not covered by the existing provisions.
Partner Gordon Deane is acting for a number of Clydesdale customers, who are taking action against the bank. The news that more funds will have to be ring fenced to meet miss-selling claims is positive news for them.