News agency Bloomberg has reported that Royal Bank of Scotland could face a fine of 800m dollars as soon as next week to settle allegations that traders tried to rig interest rates, citing two unnamed sources who it claimed had knowledge of the matter.
If the report proves accurate, it would represent the second largest fine levied by a regulator in the LIBOR investigation.
Bloomberg further reported that Investment Banking Chief John Hourican and Peter Nielsen, Head of Markets at RBS could also be asked to leave, again referencing the two unnamed.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
RBS' share price was down 1.10% to 360.50p at 09:11:57 on Tuesday morning.
RBS declined to comment when ShareCast contacted it on Tuesday morning.
MF
-
Six out of 10 retirees who accessed a pension didn’t use Pension Wise - how does the guidance service work?Many pension savers don’t bother using the free government-backed service Pension Wise. So, how does it work, and could it be useful for you?
-
UK-EU trade deal: Britain to get a £9bn boost to the economy by 2040The government’s agreement with the EU follows on from separate deals with India and the United States. Will it breathe life into the UK economy?
