4 Financial Stock Stories Meant to Intrigue
The Royal Bank of Scotland Group (NYSE:RBS): Closing price $11.47
Knowledgeable sources have it that RBS could have to shell out up to £500 million, or $804 million, in fines next week to resolve claims that traders attempted to manipulate interest rates. Also, it might happen that the investment banking chief John Hourican and the head of markets Peter Nielsen would be asked to exit because they had responsibility for the parts of the firm in which the alleged wrongdoing occurred, although they might not have had direct knowledge of the behavior. If imposed, the penalty would be the second-biggest levied by regulators in their inquiry into allegations that traders at the world’s biggest banks rigged submissions used to set the Libor.