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FSA Investigating Royal Bank of Scotland for U.K. AML Violations
printThe United Kingdom's chief financial regulator is investigating the Royal Bank of Scotland Group for potential compliance violations of U.K. anti-money laundering rules, the bank disclosed Wednesday. The Financial Services Authority (FSA) informed the Edinburgh, Scotland-based financial institution in November that it was looking into the policies, training efforts and regulatory controls of "certain" U.K. subsidiaries, according to a shareholder circular published on Royal Bank's Web site Wednesday. The bank is fully cooperating with the investigation, which focuses on the period between December 2007 and December 2008, according to the circular. A spokesman for the bank's U.S. offices declined to...
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