RBS Big fine - paid for by our money ?

OFT has fined Royal Bank of Scotland £28.59m for breaches of competition law dating back to October 2007, after it emerged the bank's Professional Practices Coverage Team disclosed confidential future pricing information to counterparts at Barclays. The fine was reduced from £33.6m to reflect the bank's admission, while Barclays qualified for immunity as it brought the matter to the OFT's attention - despite evidence it used the information to determine its own pricing.