WASHINGTON—NatWest Markets PLC pleaded responsible to wire and securities fraud, admitting that its merchants in London, Singapore and Connecticut engaged in a number of schemes between 2008 and 2018 to control U.S. Treasury markets.
The funding financial institution’s common counsel entered the plea in a listening to held remotely Tuesday earlier than a federal choose in Connecticut. Below a plea deal filed in court docket, the financial institution agreed to $35 million in fines and different penalties, a three-year time period of probation throughout which NatWest is required to cooperate with prosecutors and the appointment of a company monitor to evaluate the financial institution’s compliance practices.