The UK watchdog has launched an investigation into the rules and procedures banks have when running accounts for high profile clients.
The Financial Conduct Authority sent a letter on Monday (14 August), stating it was "reviewing how financial services firms have applied the politically exposed persons (Peps) regime and whether any changes are needed for UK Peps." It said it was "keen to hear directly from UK Peps on their experiences, including any problems they have encountered". FCA to begin de-banking probe The probe follows the launch of a widespread de-banking investigation from the FCA earlier this month, after the issues with former UKIP leader Nigel Farage having his account closed at Coutts, a private ba...
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