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Director given judgment amid corporate fraud claims at bank

Published on 18 May 2010 under category: legal

The former director of the Royal Bank of Scotland (RBS) has accepted a decision from the finance industry watchdog that he should not perform any similarly high-ranking roles in the future.

Johnny Cameron has been subject to an investigation by the Financial Service Authority (FSA), which has concluded that he can not professionally meet any of its standards for working in an influential position in a regulated industry.

He will not be subject to any disciplinary action, after agreeing to the FSA's conclusions which means he will no longer be able to work full-time in financial services.

RBS has already been targeted by the FSA with allegations of corporate fraud, such as money laundering.

The fast expansion of the bank during its public takeover also prompted accusations of poor customer care standards.

The FSA began an investigation into the company's complaints procedure earlier this year.

In a recent case based in Singapore, RBS was accused by Barclays of passing on information on its loans to large professional firms.

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