The Financial Services Authority (FSA) has imposed a £320,000 fine on Northern Rock's former finance director David Jones along with a lifetime ban on working in any regulated activity.
The City regulator found him guilty of involvement in the bank's misreporting of mortgage arrear figures as lower than they should have been.
This is the third and final fine imposed by the FSA in its probe into the staff manipulation of data. It has already slapped a fine of £504,000 on Northern Rock's former deputy chief executive David Baker and a £140,000 penalty on the bank's former managing credit director Richard Barclay.
The regulator found that the bank had reported wrong mortgage arrears and possessions figures before its nationalisation in February 2009, thus misleading shareholders and industry watchers.
Jones, who allowed Northern Rock to publish false mortgage data in January 2007, left the bank in April 2010. The misreporting related to the exclusion of 1,917 loans from the bank's arrears figures.The FSA has been reported as saying that Jones' conduct demonstrated "a lack of integrity in this regard".
