Royal Bank Scotland Responds to Financial Conduct Authority in U.K.

The Royal Bank Scotland (RBS) said Friday it responded to the U.K.’s Financial Conduct Authority with regard to media speculation that highlighted an alleged money laundering scheme involving Russian entities between 2010 and 2014. ADRs climbed more than 1% intraday.

“Allegedly certain European banks, including 17 UK based financial institutions, and certain U.S. banks, were involved in processing certain transactions associated with this scheme,” the lender said in a Form 20F filing with the Securities and Exchange Commission.

In common with other banks, in March 2017 RBS received a request for information from the FCA in relation to this matter. RBS has also received similar requests from regulators in other jurisdictions.

In a statement, the bank added it is in the process of “responding to the requests from other regulators.”

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