RBS says forex fines could impact on pay

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Royal Bank of Scotland said it would take into account the $669m paid in fines to U.S. authorities following misconduct in its foreign exchange business when making future pay decisions for its staff.

Reuters reports that state-backed RBS was one of four major banks which pleaded guilty to trying to manipulate foreign exchange rates and one of six banks to be fined a total of nearly $6bn in a settlement that substantially ends a global probe into the $5 trillion-a-day market.

'We are determined to learn lessons from our past mistakes and to hold those responsible fully to account for their actions', CEO McEwan said on Wednesday.

To access the complete Reuters article hit the link below:

RBS says forex fines to influence future pay decisions

Global banks admit guilt in forex probe, fined nearly $6 billion

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