Dozens of ‘major’ compliance breaches at Bank of England, NAO reports

The Bank of England had ‘made good progress’, the NAO said, but there had been an unacceptable level of compliance breaches of its own staff policies. Photograph: Yui Mok/PA

Dozens of “major” compliance breaches have been unearthed at the Bank of England, despite progress to fix shortcomings after misuse of the central bank’s audio feed by hedge funds four years ago.

The report by the National Audit Office (NAO), the public spending watchdog, reviewed the Bank’s actions to improve the handling of non-financial risks, and whether it had learned lessons from two high-profile scandals.