Misconduct of Royal Bank of Scotland

The royal Bank of Scotland used to be a famous Scottish institution, a bank with a prudent reputation. However, in October 2008, less than a ten years after Fred Goodwin replace succeed as chief executive, happens collapse only within few hours. RBS later lost their biggest profit in UK corporate history - 24 billion pounds - which damaged the bank's reputation for financial prudence and Scotland's image as a global financial centre.

This is a national catastrophe for all the people, according to a survey that RBS which force UK on the edge f destruction still have 100 billion pounds of funds “black hole”, cause the huge holes is crime and illegal activities which in the field of “big five” , part includes: improper sales of payment protection and insurance of financial products ; to deceive investors and let them inject 12 billion pounds before the financial crisis in 2008; to manipulate the foreign exchange market whose daily amount of 3 trillion pounds.

Even in the face of the bankruptcy and British government to spend 45.5 billion pounds a year after the rescue, the Royal Bank of Scotland as not been successful transformation, this makes British public disappointed. the British paid a heavy price that they cannot reward from that 45.5 billion bailout money no matter what happens.

Inside the bank, this is chocking because of the illegal action of the government and regulators allowed Bankers. In the context of the allegations, the RBS seems will face huge fines in the next few years. these fines are derived from the results of the financial crisis triggered aeries of changes due to misconduct.

To be Honest, the early years of foreign exchange regulation is very loose so that lead to a lot of inappropriate behavior in the industry, Now these behaviors are slowly dug out and banned, but also because they violate the industry regulators given the "customer first" guidelines, therefore they are fined. now I understand that we learn Business Ethics this module is necessary to remind ourselves in the future work do not do something contrary to morality.