The Royal Bank of Scotland says it has reached a settlement with the US Securities and Exchange Commission over an American investigation into its mortgage-backed securities offerings.
The bank said in a statement that it had agreed to a permanent injunction and a payment of just under $US154 million. The British company said the cost of the payments was covered by provisions it had already made.
The SEC complaint alleged that a statement in the prospectus for the securities offering was "materially misleading." The bank said the terms of the settlement meant it neither admitted nor denied the allegations.
