The key difference is that pleading guilty in Britain won’t jeopardise NatWest’s banking license, according to people familiar with the case. On the contrary, it could even reduce the size of its penalty. A lawyer for Britain’s Financial Conduct Authority is demanding a 340 million pound fine.
The sentencing judge will probably opt for a much lower number, not least becausecall for a one-third reduction in cases where defendants admit guilt straight away. Nor is it in the FCA’s interest to destabilise a systemically important bank majority-owned by taxpayers. That makes NatWest’s pleas pleasing on all fronts. Debt woes crash China Inc. luxury dream
Source: Law Daily Report (lawdailyreport.net)
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