Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a654414

RBS reignites bonus row as £500m Libor fine looms

by Alex Steger on Jan 29, 2013 at 07:49

RBS reignites bonus row as £500m Libor fine looms

Royal Bank of Scotland (RBS) is preparing to pay as much as £250 million in bonuses to staff at an investment banking division heavily implicated In the Libor rigging scandal, according to the Financial Times.

The FT reported that the move comes as RBS prepares to settle with US and UK regulators over the Libor scandal with a fine expected to top £500 million, meaning the taxpayer will effectively be paying RBS investment bankers about £250 million in bonuses, while simultaneously footing the bill for Libor fixing.

The paper said the majority of the Libor fine, around £400 million, will be paid to US authorities, while £100 million could go to the Financial Services Authority.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Long time coming: is the recovery here to stay?


Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

More about this:

Look up the shares

  • Royal Bank of Scotland Group PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

What others are saying

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet