Royal Bank of Scotland Faces SEC Loan-Document Probe, FT Reports
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Royal Bank of Scotland Group Plc, Britain’s biggest government-owned bank, faces U.S. Securities and Exchange Commission scrutiny over demands by investors that it repurchase some debts, the Financial Times reported.
The inquiry is part of a probe into how financial firms handled faulty mortgage loans, the newspaper reported today, citing unidentified people familiar with the matter. The regulator has sought information on "document deficiencies," related to remedial measures and early payment defaults, the London-based bank said in an Aug. 30 regulatory filing.