Nigel Farage, prominent Brexiteer and former leader of UKIP, has strongly criticized the Financial Conduct Authority (FCA) for its recent investigation, which found no evidence of de-banking based on personal beliefs. The FCA examined 34 banking organizations but did not include Farage's case as it fell outside the time period under review.
No evidence of de-banking found, says FCA
Farage was informed that his account with Coutts, a private bank owned by NatWest, would be closed due to his views conflicting with those of the bank. However, the FCA's probe concluded that there had been no closure of any account solely based on political beliefs.
Farage dismisses findings as a "whitewash and a joke"
Farage strongly condemned the FCA's report, describing it as a "whitewash and a joke." He expressed concern about the effectiveness of the banking industry's regulator, highlighting the need for accountability and personnel changes at the FCA.
FCA under scrutiny raises "serious questions," says Tory MP
Tory MP Danny Kruger has raised concerns about the FCA's handling of the investigation, stating that the findings have raised "serious questions" about the regulator and its ability to address potential issues within the banking sector.
FCA promises to continue investigating
In response to the criticism, the FCA's Sarah Pritchard stated that the investigation provided "preliminary insights." She pledged that the FCA will continue its scrutiny of the banking industry to ensure its integrity and fairness.
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