Metro Bank has confirmed its addition to the Financial Conduct Authority’s (FCA) financial crime watchlist, a setback for the bank as it seeks to recover after securing a major refinancing deal. The FCA is reviewing the management of financial crime risk in the bank’s back book, along with concerns about the effectiveness of financial crime controls over the online account provisions. Companies on the watchlist face “enhanced supervision” and must address issues of concern. This revelation was included in a prospectus for a refinancing deal, involving a £325m capital raise and £600m debt refinancing, led by existing shareholder Spaldy Investments. The bank warned shareholders that alternative measures could be imposed by the Bank of England if they do not support the plan. The FCA had fined Metro Bank £10m in December the previous year for publishing incorrect information to investors in 2018. The bank is cooperating with the FCA’s ongoing inquiries, but the outcome and financial impact remain uncertain.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}