The Department of Justice secured a guilty plea from NatWest Markets, the newly-named Royal Bank of Scotland, for trade manipulation, referred to as "spoofing," in U.S. Treasury markets. The NatWest resolution reflected changes in DOJ's white-collar enforcement policies, including acknowledgment and consideration of NatWest's prior misconduct (criminal and civil) and appointment of an independent compliance monitor.
DOJ cited NatWest's status See more +
The Department of Justice secured a guilty plea from NatWest Markets, the newly-named Royal Bank of Scotland, for trade manipulation, referred to as "spoofing," in U.S. Treasury markets. The NatWest resolution reflected changes in DOJ's white-collar enforcement policies, including acknowledgment and consideration of NatWest's prior misconduct (criminal and civil) and appointment of an independent compliance monitor.
DOJ cited NatWest's status as a repeat offender as justification for requiring a criminal guilty plea to two counts. Under the plea agreement, NatWest Markets will pay $35 million in restitution, forfeiture, and a criminal fine, serve three years' probation and take on an independent compliance monitor.
Listen to Michael Volkov as he reviews the NatWest prosecution and settlement agreement in today's Corruption Crime & Compliance podcast. See less -