NatWest Faces Regulatory Breaches and Plunging Shares Amid Farage Debanking Investigation
TL;DR
The UK's Financial Conduct Authority (FCA) has identified potential "regulatory breaches" in NatWest's handling of the decision to close Nigel Farage's accounts. NatWest has acknowledged shortcomings in its treatment of Farage and will implement all recommendations from an initial review. The bank will disclose a decision on whether to dock former CEO Alison Rose's pay over the matter soon. The FCA is reviewing NatWest's governance, systems, and controls in light of the potential breaches.
Topics:businessfinance#debanking#finance#financial-conduct-authority#natwest#nigel-farage#regulatory-breaches
- UK watchdog finds potential NatWest 'regulatory breaches' in Farage fiasco Reuters
- Coutts’ exit of Farage was lawful, review finds Financial News
- NatWest shares plunge after cutting profit outlook and admitting ‘serious failings’ over treatment of Nigel Farage – business live The Guardian
- NatWest shares tumble as FCA probes Farage debanking Reuters
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