The settlement also includes a non-prosecution agreement. RBS will pay a $35 million fine and at least $9.09 million to customers, including Pacific Investment Management Co, Soros Fund Management and affiliates of Bank of America, Barclays, Citigroup, Goldman Sachs and Morgan Stanley.
RBS allegedly lied about bond prices and charged commissions it didn’t earn. The improper activity happened primarily in Stamford, Connecticut.