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Violation Tracker UK Individual Case

Company: Clydesdale Bank PLC
Current Parent Company: Virgin Money UK PLC
Parent at the Time of the Penalty Announcement: National Australia Bank
Recap of Ownership Changes: National Australia Bank listed CYBG plc in 2016, with Clydesdale Bank as a subsidiary. CYBG acquired Virgin Money in 2018 and changed its name to Virgin Money UK plc.
Penalty: £20,678,300
Year: 2015
Date: 14 April, 2015
Offence Group: consumer-protection-related offences
Offence Type: insurance violation
Violation Description: Clydesdale Bank paid a £20.6 million fine in settlement of a finding by the FCA that the company did not fairly handle customers complaints about the mis-selling of Payment Protection Insurance by not handling complaints fully and providing false information to the Financial Ombudsman.
Action Type: agency action
Settlement Type: settlement of FCA Decision
Agency: Financial Conduct Authority
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking
Source of Data: (click here)