Securitas reaches settlement with BoE over Loomis

STOCKHOLM, June 19 (Reuters) - Securitas (SECUb.ST) said on Thursday it had reached a settlement with the Bank of England over non-compliance with the central bank's rules on the sorting, distribution and circulation of cash bills.

The Swedish security firm said the amount of the final settlement, which relates to its divested Loomis Cash Management (LCM) business in Britain, is covered by provisions the group has already made and no further financial effects are expected.

It did not give a figure for the final settlement.

Securitas said LCM had made declarations that did not comply with the rules of the Bank of England's Note Circulation Scheme which allows commercial firms to hold notes in custody for the bank at cash centres.

Loomis transferred most of its operations to Vaultex UK Ltd in November 2007.