BC-EU--Britain-RBS Executive,0131

RBS executive agrees deal with watchdog

LONDON (AP) -- Britain's financial services watchdog says it has agreed a settlement with a former director of the Royal Bank of Scotland that he will not work full-time in the industry after an investigation into his role at the part-nationalized bank.

The Financial Services Authority said Tuesday that Johnny Cameron has also agreed not to perform any "significant influence function."

In return, the FSA is not taking any disciplinary action against Cameron. It hasn't made any findings of a regulatory breach against the former executive, and he hasn't made any admissions. He may still work as a part-time consultant.

The FSA had been investigating Cameron in his role as former chairman of RBS Global Markets.

RBS was bailed out by the government in October 2008.