A unit of NatWest Group on Tuesday consented to pay about $35 million and confessed to wire and securities fraud in relation to a long-showing plan to a portion of its merchants to control US Treasury debt markets.
The lender’s minnow investment bank NatWest Markets conceded its traders engaged with schemes to control US Treasury markets more than 10 years up to 2018.
The firm agreed to serve three years of probation in addition to the fine and restitution, the Department of Justice said in a statement.