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Violation Tracker Individual Record

Company: RBS Securities Inc.
Current Parent Company: NatWest Group PLC
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Penalty: $44,000,000
Year: 2017
Date: October 26, 2017
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: investor protection violation
Mega-Scandal: Toxic Securities
Violation Description: RBS Securities Inc. and the U.S. Attorney's Office in Connecticut entered into a non-prosecution agreement relating to RBS's fraudulent trading through its now-defunct U.S. Asset-Backed Securities, Mortgage-Backed Securities and Commercial Mortgage-Backed Securities Trading group. As part of this agreement, RBS agreed to pay a monetary penalty of $35 million and pay more than $9 million of restitution to victim customers, including firms affiliated with recipients of federal bailout funds through the Troubled Asset Relief Program.
Level of Government: federal
Action Type: agency action
Agency: U.S. Attorney-District of Connecticut
Civil or Criminal Case: criminal
Prosecution Agreement: non-prosecution agreement
HQ Country of Current Parent: United Kingdom
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.