Europhobe Nigel Farage, former leader of the Brexit Party and the anti-immigration UKIP party, during a press conference in London on March 20, 2023 (AFP/Daniel LEAL)
The British financial markets authority, the FCA, has not found any cases of bank accounts being closed for reasons of “lawfully expressed” political opinions, according to the preliminary findings of a study launched in the wake of the Farage affair.
Figure of the British far right, Nigel Farage, former leader of the Brexit Party and the anti-immigration party UKIP, denounced this summer the closure of his accounts by a subsidiary of NatWest, the very chic Coutts.
“The UK is one of a few countries where concerns have emerged over the scale of account closures and access to financial services,” the FCA explained on Tuesday.
“More recently, it was a question of whether (service) providers had closed customer accounts because of their legally expressed political opinions,” adds the financial watchdog.
The study, carried out quickly and not exhaustive, specifies the FCA, does not currently suggest that “accounts have been closed” because of such opinions or beliefs.
She gives the example, however, of accounts closed after racist statements, in particular sometimes directed against bank employees.
The British body also says that it will look more closely at account closures linked to “reputational” risks for banks, as in the case where customers are in “relationships with individuals doing the subject to sanctions, or their close associates.
Mr. Farage had revealed documents in a video according to which Coutts was particularly concerned about “the risks to (his) reputation (…) by being associated with him”.
The affair had moved the political class and led to the resignation of the managing director of Coutts, a subsidiary of the NatWest bank, and that of Alison Rose, then boss of the group.
The government had announced its intention to tighten the rules allowing banks to close their customers’ accounts, in particular by providing 90 days’ notice and requiring establishments to give clear reasons before closing.
© 2023 AFP
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