FSA probes Coutts over AIG bonds

RBS says it is "cooperating fully" with the probe into Coutts, which counts Queen Elizabeth II among its clients. In a statement the bank said: "In July 2010, the FSA notified RBS Group it was commencing an investigation into the sale by Coutts & Co of ALICO (American Life Insurance Company) Premier Access Bond Enhanced Variable Rate Fund to customers between 2001 and 2008." A spokeswoman at the FSA confirmed the statement was accurate. Earlier this week the FSA said it has fined RBS £5.6m for UK sanctions control failings at Coutts and other units, the regualtor's biggest fine to ...