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RBS says forex fines will influence future staff pay decisions

Reuters - UK Focus

LONDON, May 20 (Reuters) - Royal Bank of Scotland (LSE: RBS.L - news) said it would take into account the $669 million paid in fines to U.S. authorities following misconduct in its foreign exchange business when making future pay decisions for its staff.

The bank, 80 percent-owned by the British government, also said that it had so far dismissed three people and suspended two more pending further investigation into its foreign exchange business.

"We are determined to learn lessons from our past mistakes and to hold those responsible fully to account for their actions," Chief Executive Ross McEwan said on Wednesday.

(Reporting by Matt Scuffham, editing by Sinead Cruise)