Private bank Coutts has been fined £6.3m by City watchdog the FSA for the way it sold investments to clients. The fine surrounds the sale of bonds issued by US insurance company AIG and described as low-risk to 427 well-off customers, who invested £1.45bn. However, the investments were caught up in the uncertainty of the financial crisis when AIG had to be bailed out. Coutts, which is part of RBS, became a household name as the bank to the rich and famous, including the Queen. It said it would compensate anyone who suffered losses as a result of the failures identified by the regulator....Read more here---> BBC News - Private bank Coutts fined £6.3m by the FSA