UK Regulator Bars New Clients At Bank Of London After Compliance Issues

The Financial Conduct Authority (FCA) has restricted The Bank of London from onboarding new customers, formalising a measure already in place since August 2025.

The restriction was recorded on the regulator’s register on March 18, 2026, and requires prior approval before any new clients can be added. The lender agreed to pause onboarding while it works on financial crime control systems. The move follows action by the Prudential Regulation Authority, which fined the bank 2 million pounds over issues linked to its capital disclosures. The breaches took place between October 2021 and May 2024. The bank was led by Founder Anthony Watson during the period under review.