Skip to Primary Navigation

Skip to main content

Act to get balance right on PEPs, FCA tells UK financial sector

Couuts Bank
Coutts was one of the banks caught up in the row over debanking. Photo: Dan Kitwood/Getty Images

Martin Cloake

2 min read
Click to share on Facebook (Opens in new window/tab) Click to share on X (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

Regulator says treatment of senior figures must be improved in wake of debanking furore.

UK banks, payment firms and lenders are “getting the balance wrong” in how they treat politicians and senior public servants, UK financial regulator the FCA has said.

The FCA drew its conclusion after conducting a review of how politically exposed persons (PEPs) are treated. The review was carried out at

, , , ,

Get full access, free for a month

Start your 28-day free trial to continue reading and access
all content on GRIP – no payment details required.

Start free trial Sign in

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience