Mastercard subsidiary is first infrastructure firm fined by Bank of England

The Bank of England has given its first fine to an infrastructure firm in the financial markets through an £11.9 million penalty on Vocalink Ltd, the payment systems architect and operator owned by Mastercard.

By Neasa MacErlean

The disciplinary action came after the company informed the regulator that it had complied with a direction, even though three reports - one from Internal Audit and two from external consultants - had not come to this conclusion, according to the final notice.