PRA enforcement · 2021

PRA fines and enforcement actions in 2021

1 enforcement action against 1 firm took effect in 2021, with fines totalling £5.4m. Each one links to a plain-English summary and, where one exists, the published notice or announcement.

Actions

Fines imposed

£5.4m

Firms and individuals

Latest

21 Dec 2021

Metro Bank PLC · £5.4m fine
21 Dec 2021 · FRN 488982
Fine
On 21 December 2021 the Prudential Regulation Authority (PRA) issued a Final Notice imposing a financial penalty of £5,376,000 on Metro Bank plc. Metro Bank settled during the PRA’s Discount Stage and therefore qualified for a 30% settlement discount; without that discount the penalty would have been £7,680,000. The PRA’s Final Notice on the Bank of England website sets out the reasons for the penalty; the FCA register entry does not reproduce those reasons and does not record any customer redress or tribunal appeal.
Summarised from notice and press

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