UK's RBS fined $615 million in rate rigging probe
February 7, 2013 12:35 AM EST
The bank said on Wednesday John Hourican, head of RBS's investment bank had agreed to leave following the misconduct of staff in that business.
Part state-owned RBS is the third bank to be punished following investigations into rate-fixing by authorities around the world.
Switzerland's UBS agreed to pay $1.5 billion to settle charges while Barclays paid approximately $450 million.
(Reporting by Matt Scuffham; Editing by Carmel Crimmins and Mark Potter)
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid