Tribunal trims fines 25% on upheld decision against Metro Bank directors

Fines imposed by the FCA on two Metro Bank directors who were "knowingly concerned in a breach of the Listing Rules" have been cut 25 per cent by the Upper Tribunal.

By Neasa MacErlean

The bank itself was fined £10 million in 2022, for publishing information on its capital ratios that contained a "material error" regarding Risk Weighted Asset calculations. This saw the share price fall 39 per cent when it was explained and corrected three months later.