Ex-RBS executive agrees job ban with FSA

18th May 2010 10:40

Britain's financial services watchdog said Johnny Cameron, the former head of investment banking at Royal Bank of Scotland, has agreed to a life-time ban from financial sector jobs as part of a settlement of an investigation into his role at the part-nationalised bank.The Financial Services Authority (FSA) said Cameron also agreed not to perform any "significant influence function" or full-time job in financial services.In exchange, the regulator agreed not to take disciplinary action against him. The FSA said it has not made any findings of regulatory breach against Cameron and he has not made any admissions.The agreement does not prevent Cameron from engaging in part time consultancy work in the financial services industry provided that the work does not involve performing activities which would require approval for a significant influence function.