NatWest guilty plea Archives - Corruption, Crime & Compliance

NatWest’s Fraudulent “Spoofing” Schemes (Part II of II)

Uncategorized

5 Jan, 2022

NatWest’s Fraudulent “Spoofing” Schemes (Part II of II)

NatWest’s fraudulent “spoofing” schemes occurred in the primary and secondary markets for U.S. Department of Treasury Securities, including derivatives that tracked the prices of U.S. Treasury Securities for 5-year, 10-year and 30-year Treasury notes and bonds. Between January 2008 and May 2014, a NatWest trader in London (Trader-1) and NatWest’s broker-dealer in Stanford (trader-2) engaged in a number of schemes to defraud relating to the...

General

4 Jan, 2022

NatWest Markets Pleads Guilty and Agrees to Pay $35 Million for Fraudulent “Spoofing” Scheme (Part I of II)

The Department of Justice secured a guilty plea from NatWest Markets, the newly-named Royal Bank of Scotland, for trade manipulation, referred to as “spoofing,” in U.S. Treasury markets. The NatWest resolution reflected new changes in DOJ’s white collar enforcement policies, including acknowledgement and consideration of NatWest’s prior misconduct (criminal and civil) and appointment of an independent compliance monitor. NatWest was not offered a deferred or...