pc
nid 91440
Mar 24, 2026
csoo@vixio.com
United Kingdom
Bank of England
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2146 charsUnited Kingdom's Prudential Regulation Authority Fines The Bank of London and Parent Company for Integrity Breaches
On March 24, 2026, the Prudential Regulation Authority (PRA) fined The Bank of London Group Limited and its parent financial holding company Oplyse Holdings Limited (formerly The Bank of London Group Holdings Limited) £2 million for misleading the regulator over their capital positions, failing to act with integrity, failing to be open and cooperative with the PRA, and failing to maintain adequate financial resources.
The PRA's investigation identified breaches occurring between October 7, 2021 and May 22, 2024. The Bank of London Group Limited and Oplyse Holdings Limited failed to comply with regulatory capital requirements over an extended period and repeatedly misled the PRA regarding their actual capital positions, including providing fabricated documents intended to misrepresent their capital position. The firms also failed to be transparent regarding their deteriorating solvency position and failed to manage or report a large exposure resulting from a loan between the two entities. This marks the first time the PRA has fined a firm for failing to conduct its business with integrity and the first enforcement action against a parent financial holding company of a firm. The breaches warranted a financial penalty of £12 million; however, the PRA reduced the penalty to £2 million after the firms demonstrated that payment of the full amount would cause serious financial hardship. The Bank of London Group Limited breached multiple rules including Fundamental Rules 1, 3, 4, and 7, as well as provisions relating to own funds reporting, large exposures identification and management, notifications, and related party transaction risk. Oplyse Holdings Limited breached Rule 7A of the Definition of Capital Part of the PRA Rulebook and Chapter 3, Article 7 regarding consolidated own funds reporting.
The PRA and both entities have agreed to settle the matter.
REFERENCES:
Bank of England. "PRA fines The Bank of London and its parent company Oplyse Holdings Limited." News release, March 24, 2026. https://www.bankofengland.co.uk/news/2026/march/pra-fines-the-bank-of-london-and-its-parent-company-oplyse-holdings-limited
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2639 charsUK's Prudential Regulation Authority Fines Bank of London and Parent Company Oplyse Holdings Ltd £2m for Failure to Comply with Capital Requirements
On March 24, 2026, the Prudential Regulation Authority (PRA) fined the Bank of London and Oplyse Holdings Limited (formerly The Bank of London Group Holdings Limited) £2m for misleading the PRA over their capital positions, failing to act with integrity, failing to be open and cooperative with the regulator and failing to maintain adequate financial resources.
The PRA’s investigation found that between October 7, 2021 and May 22, 2024 ,the named enteties:
Failed to comply with their regulatory capital requirements over an extended period.
Repeatedly misled the PRA as to their actual capital positions, this included providing the PRA with several fabricated documents intended to provide a false picture of the capital position.
Failed to be open and transparent with the regulator on numerous further occasions, including in relation to their deteriorating solvency position.
Failed to act in a prudent manner, including failing to manage or report a large exposure resulting from a loan from the Bank of London Group Limited to Oplyse Holdings Limited.
The PRA found that The Bank of London Group Limited breached:
Fundamental Rules : Fundamental Rule 1 (a firm must conduct its business with integrity), Fundamental Rule 3 (a firm must act in a prudent manner), Fundamental Rule 4 (a firm must at all times maintain adequate financial resources), Fundamental Rule 7 (a firm must deal with its regulators in an open and cooperative way and must disclose to the PRA appropriately anything relating to the firm of which the PRA would reasonably expect notice);
(CRR) Part of the PRA Rulebook : Reporting part: Chapter 3, Article 5 (requirement to report own funds on an individual basis) . Large exposures part: Article 393, capacity to identify and manage large exposures . Large exposures part: Article 394 reporting requirements and Article 395 limits to large exposures.
Reporting part: Chapter 3, Article 5 (requirement to report own funds on an individual basis) .
Large exposures part: Article 393, capacity to identify and manage large exposures .
Large exposures part: Article 394 reporting requirements and Article 395 limits to large exposures.
Notifications Part of the PRA Rulebook : Rule 2.3
Related Party Transaction Risk Part of the PRA Rulebook : Rule 2.1 and Rule 2.3;
The PRA found that the Bank of London Group Limited and Oplyse Holdings Limited breached:
Definition of Capital Part of the PRA Rulebook : Rule 7A
The PRA found that Oplyse Holdings Limited breached:
Reporting (CRR) Part of the PRA Rulebook : Chapter 3, Article 7 (requirement for reporting own funds on a consolidated basis).