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Gupta-owned Wyelands Bank gets UK censure and fine for ‘serious’ regulatory failings

By Fiona Maxwell ( April 4, 2023, 10:26 GMT | Insight) -- Collapsed Wyelands Bank has been censured and handed a UK fine of 8.5 million pounds for "significant regulatory failings" between 2016 and 2020. The bank, part of British billionaire Sanjeev Gupta's family of companies, has had the sanction reduced to nil as it is being wound down and has limited financial resources. Links between Wyelands, failed Greensill Capital and Gupta are being separately investigated on suspicion of fraud.Sanjeev Gupta's failed Wyelands Bank has been censured by the UK's prudential regulator for “wide-ranging significant regulatory failings” and has been issued a multimillion-pound fine, which it will not have to pay as it is being wound down. ...

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