The UK's Financial Conduct Authority said today it had fined Metro Bank £10m for breaching rules by publishing incorrect information to investors.
The Financial Conduct Authority said today it had fined Metro Bank £10m for breaching rules by publishing incorrect information to investors.
Metro Bank said in a statement that it had cooperated fully with the FCA investigation and accepted the outcome. It was launched to challenge the market dominance of banks including Lloyds and Barclays but had its ambitions dented by the fallout from its reporting error. The FCA said Donaldson and Arden were aware the figure was wrong and would require substantial correction. The representative for Donaldson and Arden noted there was no finding of dishonesty.
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