Settlement with German prosecutors, which involves immunity for any current for former staff, is latest embarrassment for bailed-out bank Royal Bank of Scotland is paying €23.8m (£17.3m) to German prosecutors to settle an investigation into tax evasion by part of Coutts, best known for being banker to the Queen. The… – Continue reading
RBS’s private banking business has swung deeply into the red as litigation and conducts costs relating to Coutts mount. According to an interim update from the bank, the private banking business registered a loss of £50 million in the second quarter versus a £145 million profit in the corresponding period… – Continue reading
Investors need to scrutinise the impact of new tax measures on the banking sector after the Budget created clear winners and losers, managers have claimed, the FT Advisor reports. Last week Chancellor George Osborne revealed in his first Conservative Budget that the annual levy UK banks must pay – based… – Continue reading
London: Schroders is the latest UK group to set aside millions of pounds for potential fines arising from a US investigation into companies that helped American clients evade taxes. Schroders, the UK’s second-biggest listed fund house, has reserved £15 million (Dh92 million) for a possible penalty in connection with the… – Continue reading
