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Violation Tracker UK Individual Case

Company: Coutts & Company
Current Parent CompanyNatWest Group PLC
Parent at the Time of the Penalty Announcement: NatWest Group PLC
Recap of Ownership Changes: RBS Group changed its name to NatWest Group in 2020
Penalty: £6,300,000
Year: 2011
Date: 7 November, 2011
Offence Group: financial offences
Offence Type: investor protection violation
Violation Description: Coutts paid a £6.3 million fine in settlement of a finding by the FSA that the company mis-sold the AIG Life Premier Access Bond and Premier Bond, Enhanced Variable Rate Fund by failing to take reasonable care to ensure its advice was suitable for customers needs and that customers understood the Fund and its risks.
Action Type: agency action
Settlement Type: settlement of FSA Decision
Agency: Financial Services Authority
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 of Data(click here)