FSA's Tracey McDermott
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FSA: 'Extensive wrongdoing' at RBS

The UK's Financial Services Authority has issued a fine of £87.5m to the Royal Bank of Scotland for its part in the Libor rate fixing scandal.

The UK's Financial Services Authority has issued a fine of £87.5m to the Royal Bank of Scotland for its part in the Libor rate fixing scandal.

RBS has also been fined about £300m by US regulator and the US Department of Justice.

Last year Barclays and Swiss bank UBS were also fined by regulators for attempting to manipulate Libor.