The Royal Bank of Scotland and insurance company General Accident were yesterday fined by regulators for their part in the 1996 Deutsche Morgan Grenfell investment scandal.
The two companies, fined £290,000 sterling and £120,000 respectively, were both trustees of unit trusts run by disgraced Morgan Grenfell fund manager Peter Young. The Royal Bank of Scotland, which continues to act as trustee to some funds, was ordered to pay an extra £143,000 legal costs.
