RBS

REVIEW OF THE YEAR

Royal Bank of Scotland has been fined $100m (£61m) by US regulators for violating US sanctions against Iran, Sudan, Burma, and Cuba.

RBS finance director Nathan Bostock is to leave the bank to become deputy CEO at Santander UK.

Despite the slowdown in Asian growth this year, the banking sector remains in rude health, according to Aberdeen Asset Management's Hugh Young.

Royal Bank of Scotland (RBS) will have to undergo an independent skilled person review of its lending practices following allegations that it put some good and viable businesses into default so it could boost profits.

Royal Bank of Scotland's new chief executive, Ross McEwan, has denied claims the bank 'systematically' ran small businesses into the ground, and said the allegations have damaged RBS' reputation.

The Royal Bank of Scotland is facing a criminal investigation over allegations the bank forced small businesses into default, according to reports.

Hugh Sergeant, manager of the River and Mercantile World Recovery fund and the group's top performing UK Equity Long Term Recovery fund, has been eyeing opportunities across Europe despite the uncertain outlook for the region.

The chairman of UK Financial Investments, the body responsible for the government's stake in RBS and Lloyds, has warned the former could face further fines from regulators over sales linked to the US sub-prime mortgage crisis.

The Financial Conduct Authority (FCA) has written to banks urging them to speed up their review of how interest rate hedging products were sold.