OffshoreAlert
Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.
RSS Feed Print
$1.47 billion bank bonus prompts UK outrage (Reuters)
Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5780


Posted: 2/9/2009 8:45:26 AM

By: Pay me my big fat bonus now

LONDON (Reuters) – Reports that the Royal Bank of Scotland (RBS) was about to award its staff a billion pounds in bonuses prompted outrage in Britain on Sunday at a time of soaring unemployment and with a deep recession looming.

RBS required a 20-billion-pound government bail-out to stay afloat last year and is now nearly 70-percent state-owned.

Speaking on a BBC chatshow, Darling said he had discussed this with RBS chief executive Stephen Hester.

"He agrees that no one who is associated with these large losses should be allowed to walk away with large cash bonuses," Darling said.


 

Jump to different Forum... 

We hunt for red flags in high-value, cross-border finance by monitoring offshore and onshore courts, regulatory actions, offering documents, and other sources - and email you the results.

View Recent Digests

ALL ARTICLES  
Cayman crypto firm ICOBox sued by US regulator for 'unregistered' activity
Cayman Islands cryptocurrency "incubator" ICOBox and its founder, Nikolay Evdokimov, have been sued by the U.S. SEC for alleged illegal involvement in digital token offerings that raised $665 million. In a separate lawsuit last year, a former CEO of an ICOBox subsidiary claimed the group's "main shareholders" were "all funded by Russian money laundered through bitcoins and other cryptocurrencies".
LATEST ARTICLES & DOCUMENTS  
Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
David Marchant
As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.