RBS 'sacks employees due to regulatory probe'

10 February 2012

The Royal Bank of Scotland (RBS) has reacted to the ongoing regulatory probe into potential interest-rate manipulation by firing at least four employees.

Sources have told Bloomberg the state-owned financier has dismissed a group of workers as the process of determining whether or not key figures were influenced without authorisation goes on.

Last week (February 3rd), it emerged that the Swiss Competition - along with several of its equivalents around the world, including the US Securities and Exchange Commission - had started an investigation of 12 banks suspected of acting outside the rules.

It is thought that a number of lenders - such as RBS, Citigroup and Credit Suisse - may have colluded to influence the London, Tokyo and euro interbank offered rates.

Consequently, RBS, Citigroup and Deutsche Bank have all made moves to remove members of staff suspected of taking part, the news source went on to state.

By Claire Archer

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