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Violation Tracker Individual Record

Company: RBS Financial Products
Current Parent Company: NatWest Group PLC
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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Penalty: $42,000,000
Year: 2012
Date: October 24, 2012
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: investor protection violation
Mega-Scandal: Toxic Securities
Violation Description: RBS Financial Products agreed to pay $42 million to resolve an investigation into the firm's role in purchasing and securitizing subprime and payment option adjustable rate mortgages in Nevada.
Level of Government: state
Action Type: agency action
Agency: Nevada Attorney General
Civil or Criminal Case: civil
Facility State: Nevada
HQ Country of Current Parent: United Kingdom
Ownership Structure of Current Parent: government-owned
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.