Metro Bank Could Face MPs Over £900M Accounting Error

Law360, London (February 1, 2019, 3:25 PM GMT) -- Metro Bank PLC could face a parliamentary inquiry after the bank's boss misled markets about a £900 million ($1.2 billion) accounting error, the chairwoman of a top House of Commons committee said Friday.

MPs could launch an inquiry into the British bank after the lender published contradictory statements about the discovery of an error in which £900 million in loans was wrongly classified as lower-risk, which has caused Metro Bank’s share price to fall by more than 50 percent since Jan. 22.

"The events at Metro Bank are concerning. The Treasury Committee will keep a close eye on developments and may...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!