Violation Tracker Individual Record

Company: 
Royal Bank of Scotland
Current Parent Company: 
Royal Bank of Scotland
Penalty: 
$125,000,000
Year: 
2017
Date: 
December 22, 2017
Offense Group: 
financial offenses
Primary Offense: 
toxic securities abuses
Violation Description: 

The California Attorney General announced a $125 million settlement with the Royal Bank of Scotland over alleged misrepresentations about residential mortgage-backed securities sold to California's public employee and teacher pension funds, CalPERS and CalSTRS, respectively.

Level of Government: 
state
Action Type: 
agency action
Agency: 
California Attorney General
Civil or Criminal Case: 
civil
Facility State: 
California
HQ Country of Parent: 
Scotland
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.