The Prudential Regulation Authority (PRA) has fined George Jay Hambro, a former non-executive director of Gupta owned Wyelands Bank plc, £72,000 for breaching conduct rules, and showing a ‘serious lack of due skill, care and diligence’ over more than two years at the bank.

Hambro’s conduct between 3 July 2017 and 19 February 2020 fell below the standards expected of a person in his position in an authorised firm, the PRA said.

The PRA found that Hambro demonstrated a ‘serious lack of due skill, care and diligence in relation to the recognition of capital, large exposures assessments, and Wyelands’ internal policy to manage potential risks of conflicts of interest between Wyelands and the wider GFG Alliance’.

The