Community Calendar

Community Artists Program
10 a.m. - 4 p.m. Charlestown

Toddler Story Hour
11 a.m. - 11:30 a.m. Carolina

Babcock Smith House Veggie Luncheon
11:30 a.m. - 1:30 p.m. Westerly

Yoga for Beginners
4 p.m. - 5:15 p.m. Charlestown

Cruise Night
5 p.m. - 8 p.m. Ashaway

Stargazing Nights at Frosty Drew
6 p.m. - 11 p.m. Charlestown

Dusty Ice Cream Book Signing
6:30 a.m. - 7:45 a.m. Westerly

Misquamicut Drive-In Movie
8 p.m. - 9:30 p.m. Misquamicut

"Dirty Rotten Scoundrels"
8 p.m. - 9:30 p.m. Westerly

... View all of today's events

Stay Connected

Royal Bank of Scotland fined $50M

HARTFORD (AP) — The Royal Bank of Scotland was fined $50 million by a federal judge in Connecticut Monday, part of more than $600 million in penalties announced last year for manipulating interest rates.

The bank’s subsidiary, RBS Securities Japan Limited, agreed to pay the fine last year as part of a plea agreement and a judge in U.S. District Court in Hartford approved the penalty Monday. The subsidiary pleaded guilty last April to wire fraud and admitted its role in manipulating the Japanese Yen London interbank offered rate, or LIBOR. That’s the rate banks use to lend money to each other and provides the basis for trillions of dollars in contracts around the world.

U.S. and U.K. regulators and authorities fined RBS $612 million, including the latest $50 million fine, for rate-rigging.

The investigations found wrongdoing by about 20 RBS traders, according to court papers.

Prosecutors and the company say those responsible have left the company and others were disciplined. RBS was one of several banks fined for manipulating LIBOR.

“Today’s sentencing of RBS is an important reminder of the significant consequences facing banks that deliberately manipulate financial benchmark rates, and it represents one of the numerous enforcement actions taken by the Justice Department in our ongoing LIBOR investigation,” said Acting Assistant Attorney General Mythili Raman.

RBS provided “extensive and highly valuable cooperation” during the investigation, according to sentencing papers filed by the company and prosecutors. The resolution also required RBS to adopt stringent internal controls and compliance measures to prevent and detect any possible future misconduct.

Back to State
Top Stories of the Week

Man sought in morning bank robbery …
MYSTIC — Police are looking for a suspect in a bank robbery this morning at the Citizens Bank branch on Broadway in Mystic. The suspect … more ...

Car crashes through Westerly storefront …
WESTERLY — Sonia Patel, visibly shaken, gestured at the table where a man sat just minutes earlier playing Keno — that was just before a … more ...

Man killed after being sucked into wood chipper …
STONINGTON — A man was killed Thursday when he apparently fell into a wood chipper on the Ogden Farm property at 117 South Anguilla Road. … more ...

Westerly man, 84, crashes into Main Street convenience store …
WESTERLY — Police have identified the driver of a 2006 Ford Taurus that slammed into windows in front of the Stop N’ Go Food Mart … more ...

Police logs: Wednesday, Oct. 7, 2015 …
Westerly Bryce A. Lombardo, 19, of 4 Ledgewood Drive, Westerly, was charged Tuesday with having prohibited weapons other than firearms. Arrests are not convictions. The … more ...