Fintech

Bank of London investigated by UK regulator as auditor warns of ‘material uncertainty’

Clearing bank’s 2023 accounts, published after a more than seven-month delay, show a £12.4m loss alongside ‘significant turnover of staff and inadequate record keeping’

Auditors for the clearing bank, formerly based in Bishopsgate, flag ‘a number of adverse events requiring significant attention’
Auditors for the clearing bank, formerly based in Bishopsgate, flag ‘a number of adverse events requiring significant attention’ Photo: Mike Kemp/Getty Images

The Bank of London is under investigation by the UK’s banking regulator, according to accounts filed more than seven months late.

Auditor EY said the fintech had experienced “a number of adverse events requiring significant attention” after a torrid year that has put its governance and finances under heavy scrutiny.

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