UK Prudential Regulation Authority (PRA) Fines Bank of London (Clearing Bank) & Parent Oplyse Holdings $2.7 Million (£2 Million) for Multiple Failures Including Repeatedly Mislead Capital Positions, Provide Fabricated Documents, Act with Integrity, Provide Open & Transparent Information on Deteriorating Solvency Position
26th March 2026 | Hong Kong
UK Prudential Regulation Authority (PRA) has fined Bank of London (Clearing Bank) & parent Oplyse Holdings $2.7 million (£2 million) for multiple failures including repeatedly mislead capital positions, provide fabricated documents, act with integrity, and provide open & transparent information on deteriorating solvency position. Announcement (24/3/26): “The Prudential Regulation Authority (PRA) has fined The Bank of London Group Limited and Oplyse Holdings Limited (formerly The Bank of London Group Holdings Limited) £2 million 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 has 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 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. This is the first time the PRA has fined a firm for failing to conduct its business with integrity, and the first time the PRA has taken enforcement action against a parent financial holding company of a firm. The failings occurred between October 2021 and May 2024. The PRA, the Bank of London Group Limited and Oplyse Holdings Limited have agreed to settle this matter. The breaches in this case warranted a financial penalty of £12 million. However, the Bank of London Group Limited and Oplyse Holdings Limited have demonstrated that payment of such a penalty would cause serious financial hardship and the PRA has therefore reduced the penalty to £2m. The PRA’s investigation found that between 7 October 2021 and 22 May 2024 the Bank of London Group Limited and Oplyse Holdings Limited: 1) failed to comply with their regulatory capital requirements over an extended period; 2) repeatedly misled the PRA as to their actual capital positions. Most seriously, this included providing the PRA with several fabricated documents intended to provide a false picture of the capital position; 3) failed to be open and transparent with the regulator on numerous further occasions, including in relation to their deteriorating solvency position; and 4) 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.” Sam Woods, Deputy Governor for Prudential Regulation and Chief Executive Officer of the PRA: “Trust in banking in the UK requires integrity and open communication with the PRA from all banks, regardless of their size. The Bank of London Group Limited and Oplyse Holdings Limited fell well below our standards, resulting in today’s penalty which marks the PRA’s first finding against a firm for acting without integrity.” In 2025 May, UK (Clearing Bank) Bank of London ($1.1 billion valuation) was being investigated by UK Regulator Prudential Regulation Authority (PRA), and had received winding-up petition by UK tax authority in 2024 for unpaid taxes. Auditor EY had raised concern on Bank of London future operations due to regulatory investigation & fund raising possibility. For 2023, Bank of London reported $15.9 million (£12 million) loss. Bank of London valuation was reported at $1.1 billion in 2023. In 2024 May, Fellesskap Group & Holdings took over Bank of London.
“ UK Prudential Regulation Authority (PRA) Fines Bank of London (Clearing Bank) & Parent Oplyse Holdings $2.7 Million (£2 Million) for Multiple Failures Including Repeatedly Mislead Capital Positions, Provide Fabricated Documents, Act with Integrity, Provide Open & Transparent Information on Deteriorating Solvency Position “
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UK $1.1 Billion (Clearing Bank) Bank of London Investigated by UK Regulator Prudential Regulation Authority (PRA) & Received Winding-Up Petition by UK Tax Authority in 2024 for Unpaid Taxes, Auditor EY Raised Concern on Future Operations Due to Regulatory Investigation & Fund Raising Possibility, Reported $15.9 Million (£12 Million) Loss for 2023, Valuation at $1.1 Billion in 2023, Fellesskap Group & Holdings Took Over in 2024 May
15th May 2025 – UK (Clearing Bank) Bank of London ($1.1 billion valuation) is being investigated by UK Regulator Prudential Regulation Authority (PRA), and had received winding-up petition by UK tax authority in 2024 for unpaid taxes. Auditor EY had raised concern on Bank of London future operations due to regulatory investigation & fund raising possibility. For 2023, Bank of London reported $15.9 million (£12 million) loss. Bank of London valuation was reported at $1.1 billion in 2023. In 2024 May, Fellesskap Group & Holdings took over Bank of London.
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