View the article online at http://citywire.co.uk/new-model-adviser/article/a647615
RBS cuts bonuses to cover £350m Libor fine
by Daniel Grote on Dec 30, 2012 at 10:35
According to the paper, the bank is weeks away from reaching a settlement with UK, US, Japanese and Singaporean regulators over Libor fixing.
Senior staff at RBS’s investment bank have been warned the bonus pool will be smaller, with some of the cash used to pay fines. The bank has also said it may confiscate bonuses paid in previous years, according to the paper.
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