Metro Bank fined £10m for giving investors false information

Mark Battersby
clock • 2 min read

Metro Bank has been fined £10m by the UK's Financial Conduct Authority (FCA) for knowingly publishing incorrect information to investors in 2018. Two of the bank's former bosses, chief executive Craig Donaldson and chief financial officer David Arden, have been given individual fines of £223,100 and £134,600 respectively for being aware of the breach. The FCA said the incorrect information was published as part of the bank's quarterly financial results on October 24 2018. The inaccuracy concerned its risk weighted assets figure, which is a measure of the amount of the bank's assets...

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