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RBS Royal Bank Of Scotland Group Plc

120.90
0.00 (0.00%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Royal Bank Of Scotland Group Plc LSE:RBS London Ordinary Share GB00B7T77214 ORD 100P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 120.90 121.35 121.40 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

U.K. Regulator Fines, Bans Former RBS Trader for Rate Manipulation

08/01/2018 10:56am

Dow Jones News


Royal Bank Of Scotland (LSE:RBS)
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By Adam Clark

 

The U.K.'s financial regulator has fined a former Royal Bank of Scotland Group PLC (RBS.LN) trader 250,000 pounds ($338,250) and banned him from the financial industry for historic interest-rate manipulation.

The Financial Conduct Authority said Monday that Neil Danziger, a former RBS interest-rate derivatives trader, was knowingly involved in a failure to observe proper standards of market conduct and acted recklessly.

The offenses relate to RBS's submission of interest-rate information to the British Bankers Association between 2007 and 2010, as well as trades made to cover payments to brokers for personal hospitality, said the FCA.

The FCA has previously imposed seven financial penalties totaling GBP426 million on companies for historic interest-rate manipulation, it said. This includes a GBP87.5 million penalty levied on RBS in 2013.

 

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

 

(END) Dow Jones Newswires

January 08, 2018 05:41 ET (10:41 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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