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The Independent UK
The Independent UK
Business
Henry Saker-Clark

Troubled UK bank fined £2 million for misleading financial watchdog

PRA The Bank of London the Prudential Regulation Authority
The Bank of England’s banking watchdog has fined the Bank of London and its parent firm £2 million - (Getty/iStock)

The Bank of England’s banking watchdog has imposed a £2 million fine on the Bank of London and its parent company, Oplyse Holdings, for "failing to act with integrity" and misleading the regulator regarding its financial position.

The Prudential Regulation Authority (PRA) stated this marks the first instance it has penalised a firm specifically for failing to conduct its business with integrity.

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