FCA starts review of treatment of politically exposed persons
Earlier this week, the Financial Conduct Authority (FCA) set out the issues it will consider as part of a review of how financial services firms treat politically exposed persons (PEPs). The review, which is to report by the end of June 2024, will look at the arrangements that firms have in place with PEPS based […]
Banking for politically exposed persons in UK: change on horizon?
The recent media furore over the withdrawal of existing, or reluctance to offer, banking facilities for so-called politically exposed persons (PEPs) has shone a light on an issue that many prominent individuals have been grappling with for some time. The UK government wants to address the problem of PEP bank account closures through introducing tighter […]