November 7, 2013 / 5:31 PM / 4 years ago

RBS says to pay $154 mln in U.S. mortgage settlement

LONDON, Nov 7 (Reuters) - State-backed Royal Bank of Scotland said on Thursday it will pay $153.7 million under a settlement with the U.S. Securities and Exchange Commission (SEC) over the sale of mortgage-backed debt six years ago.

RBS, which is 81 percent owned by the UK government, said the payment was covered by provisions it had already made.

The SEC investigation into a $2.2 billion mortgage backed security in 2007. The SEC complaint alleged RBS’s prospectus statement for the offer was “materially misleading”.

RBS said it neither admitted nor denied the allegations in the SEC complaint and had co-operated with the investigation.

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