Yorkshire and their chair Lord Patel are reportedly facing fines after allegedly failing to disclose potential conflicts of interest.
According to the Daily Mail, Patel did not tell the Financial Conduct Authority (FCA) about his role as a director with UK Inertia Business & Consulting Limited. Inertia have 'significant control' over Clean Swwipe Entertainment PLC, which the report states is part of the Clean Slate group who agreed a two-year deal to become Yorkshire's principal partner in April.
The Co-operative and Community Benefit Societies Act states that a director's 'close links' have to be regularly submitted to the FCA and the Mail claim both Yorkshire and Patel have breached the act, meaning the FCA could fine them.
