The Bank of England is considering forcing foreign banks to replace branches with subsidiaries

The Bank of England is considering forcing foreign banks to replace branches with subsidiaries

Receive free UK financial regulation updates We’ll send you one myFT Daily Digest latest roundup email UK financial regulations news every morning. The Bank of England is looking at controversial plans to force more international banks to set up subsidiaries in Britain, people familiar with the situation told the Financial Times. The move could reduce … Read more

Banks warn against closing accounts due to politics – BBC News

Banks warn against closing accounts due to politics - BBC News

July 3, 2023 image source, Getty’s image Caption, Secretary of Culture Lucy Frazer The Secretary of Culture said he was concerned that banks might close customer accounts for political reasons following claims from Brexiteer Nigel Farage. Lucy Frazer said it was something the bank “had to think about very carefully”. Last week, Mr Farage said … Read more