PRA fines former NED for Individual Conduct Rule breaches

The PRA has fined Mr George Hambro – former notified non-executive director of Wyelands Bank Plc – £72,000 for breaching Individual Conduct Rule 2.

Rule 2 states that individuals must act with due skill, care and diligence. Mr Hambro’s conduct fell below this standard in relation to the recognition of capital, large exposures assessments, and Wyelands’ internal policy to manage potential risks of conflicts of interest between the company and the wider GFG Alliance.