Compliance » RBS Plans On .25B For Legal Costs

RBS Plans On $1.25B For Legal Costs

November 2, 2014

businessman, cash,concept, conceptual, corruption, detail, money, notes, payment, pocket, pounds, receipt, receiving, sterling, suit, tie, bribe, bribery, business

The Royal Bank of Scotland, 81-percent owned by the British government following a financial crisis bailout, said it has set aside 780 million pounds, or $1.25 billion, to cover anticipated legal costs stemming from regulatory investigations. The major charges include about $6.4 million to cover potential fines and litigation related to a currency market investigation, and $1.6 million for improper sale of loan protection insurance. The bank is in talks to settle an inquiry on possible manipulation of foreign exchange markets. The bank joins Deutsche Bank, Barclays, and UBS in setting aside funds for significant regulatory costs.

Read full article at:

Daily Updates

Sign up for our free daily newsletter for the latest news and business legal developments.

Scroll to Top