Royal Bank of Scotland set aside a total of £780m to cover legal and conduct costs last quarter, the latest bank to take pre-emptive action over ongoing investigations into market manipulation.
October 31, 2014 at 12:11 PM
1 minute read
The original version of this story was published on Legalweek
Royal Bank of Scotland set aside a total of £780m to cover legal and conduct costs last quarter, the latest bank to take pre-emptive action over ongoing investigations into foreign exchange market manipulation.
A £400m provision has been made by the bank to cover the legal cost of an inquiry into suspected rigging of the foreign exchange market, with £100m held back to compensate for further payment protection insurance mis-selling claims.
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