OFT fines RBS £28.6m for price-sharing with Barclays

An OFT investigation found RBS and Barclays engaged in anti-competitive practices in relation to the pricing of loan products to large professional services firms. The fine is part of an earlier agreement between the OFT and RBS, in which RBS admitted to certain breaches of competition law and agreed to co-operate with the OFT. Barclays brought the matter to the OFT's attention and under the OFT's leniency policy has not been fined. The fair trading watchdog found between October 2007 and February or March 2008 individuals in RBS's Professional Practices Coverage Team disclosed gen...