Violation Tracker Individual Record

Company: 
RBS Financial Products
Current Parent Company: 
Royal Bank of Scotland
Penalty: 
$42,000,000
Year: 
2012
Date: 
October 24, 2012
Offense Group: 
financial offenses
Primary Offense: 
toxic securities abuses
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 Parent: 
United Kingdom
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.