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Regulators Probe Metro Bank Over £900M Accounting Blunder

Law360, London (February 27, 2019, 3:27 PM GMT) -- Metro Bank PLC has revealed that both the Bank of England’s Prudential Regulation Authority and the Financial Conduct Authority are investigating a £900 million ($1.2 billion) accounting blunder caused when it wrongly calculated the value of loans.

The City’s regulators are planning to examine the "circumstances and events” that led to the £900 million ($1.2 billion) accounting error which has caused embarrassment at Metro Bank. (AP) The City’s regulators are planning to examine the "circumstances and events” that led to the accounting error — which was exposed in January — Metro Bank said in its annual results on Tuesday. The admission caused the...

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