The UK chancellor sought the European Union’s permission to split Royal Bank of Scotland Group plc (NYSE:RBS) (LON:RBS) without being forced to adhere to new EU banking rules. The European Union’s earlier notification provided stricter new rules on executive pay and share ownership. The UK chancellor reportedly sought clearance from the European Union in July, just before the stricter new rules came into force. Smoothing the carve-out process If the EU approves UK chancellor George Osborne’s request, it would free up the chancellor to order a break-up of Royal Bank of Scotland Group plc (NYSE:RBS) (LON:RBS) without being forced to wipe…
The UK Seeks European Union Clearance To Split RBS
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports