NatWest Markets will pay $35 million and plead guilty to fraud in the US Treasury market.
NEW YORK: NatWest Markets pled guilty and agreed to a $35 million fine to settle US criminal charges that it committed fraud in the Treasury bond market, the Department of Justice announced Tuesday.
US authorities described the British financial heavyweight as a “repeat offender” because the violations breached earlier settlements with the company formerly known as RBS Securities.
“As we have previously warned, there will be serious consequences for a company that breaches the terms of an agreement with the government,” said Deputy Attorney General Lisa Monaco. “Today’s guilty plea by NatWest and the associated penalty show exactly that.”
NatWest Markets pled guilty to two counts of fraud connected to “spoofing” in…
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