RBS NV - Deferred Prosecution agreement dismissed

RNS Number : 6560U

Royal Bank of Scotland Group PLC

28 December 2011

 



RBS NV - Deferred Prosecution agreement dismissed

In May 2010, the United States Department of Justice (DoJ) and the Consortium that acquired ABN AMRO Group in 2007 agreed to a Deferred Prosecution Agreement (DPA) relating to the previously disclosed criminal investigation into ABN AMRO Bank NV's US dollar clearing activities, OFAC compliance procedures, and Bank Secrecy Act compliance matters during the period from 1995 to the end of 2007. ABN AMRO Bank NV was re-named RBS N.V. in February 2011.

On 6 April, 2011, the U.S. District Court extended the duration of the DPA until 31 December, 2011 to allow RBS N.V. more time to comply with its obligations. The U.S. District Court has on 23 December, 2011, confirmed the dismissal of the DPA which terminates RBS N.V.'s obligations thereunder.

Contacts:

Richard O'Connor

Head of Investor Relations

[phone]

Michael Strachan

Deputy Head of Group Media Relations

[phone]

 

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