PRA - Prudential Regulation Authority

PRA Fines Bank of London, Oplyse Holdings £2M for Misconduct The Prudential Regulation Authority (PRA) has fined The Bank of London Group Limited and its parent company, Oplyse Holdings Limited, £2 million for failing to act with integrity and misleading the PRA about their capital positions. These breaches occurred between October 2021 and May 2024. Originally, the penalty was set at £12 million, but it was reduced due to the financial hardship a higher penalty would cause. This marks the first time the PRA has fined a firm for lacking integrity and taken action against a parent financial holding company. The companies agreed to settle the matter.