LONDON: Royal Bank of Scotland's private bank Coutts has set aside 110 million pounds ($182 million) to compensate customers for unsuitable investment advice, a person familiar with the matter told Reuters on Friday.
RBS said earlier in August that Coutts had decided to examine the suitability of investment advice to its clients following a review into Britain's wealth management industry by the country's financial regulator.
Coutts is in the process of contacting clients and will offer compensation in appropriate cases, the bank said.
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