7 thoughts on “British bankers’ bonus scandal

  1. Bank fined £2.8m for ‘failures’

    Banks: Royal Bank of Scotland has been fined £2.8 million for “multiple failings” in the way it handled customers’ complaints, the City watchdog said today.

    The Financial Services Authority said the part-nationalised bank responded inadequately to more than half of all the complaints it reviewed.

    It said there was a “high risk” that customers of both RBS and its NatWest brand may not have been treated fairly due to a catalogue of failings in the bank’s approach to handling routine complaints.

    http://www.morningstaronline.co.uk/index.php/news/content/view/full/99683

  2. Record £7.7m fine for Barclays

    Finance: Barclays was fined a record £7.7 million today and will have to pay out up to £60m in compensation for failing to provide adequate investment advice.

    The group was fined by the Financial Services Authority after it failed to ensure that two investment funds it sold to more than 12,000 people were suitable for them.

    The regulator said that despite the fact Barclays had identified that potentially unsuitable sales were taking place as early as June 2008, it didn’t take appropriate and timely action to rectify the situation.

    http://www.morningstaronline.co.uk/index.php/news/content/view/full/99948

  3. Barclays boss in line for £10m bonus

    BANKING: Barclays boss Bob Diamond could receive a £10 million pay-out in the forthcoming bonus season according to Sunday papers.

    The Barclays chief executive — who was once dubbed the unacceptable face of banking by former business secretary Lord Mandelson — could receive a share award worth as much as seven-and-a-half times his £1.3m salary.

    http://www.morningstaronline.co.uk/news/content/view/full/114184

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