![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/secondary\/4943421.jpg?r=1693884439264\")
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\u201cWe have heard that often it has, particularly for the families of political figures.<\/p>\n
\u201cIf we find that banks and others are more tick-box than risk-based, we will act. Because proportionate additional financial scrutiny should not make it harder than it needs to be to take part in public life.\u201d<\/p>\n
In the wake of the Farage row,\u00a0Dame Alison Rose, the CEO of NatWest, the company that owns Coutts, stepped down from her role.\u00a0The scandal brought on calls from the Treasury and ministers for the FCA to conduct a review into whether financial institutions are meeting their guidance over the treatment of PEPs and whether that guidance needs to be updated.<\/p>\n
Don’t miss… <\/strong> Sadiq Khan lashes out after Nigel Farage blasts ‘horribly divisive’ festival[LATEST] <\/strong><\/p>\n We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info<\/p>\n Pritchard said the FCA are conducting a review focusing on how \u201cfirms are applying the definition of PEPs to individuals\u201d and \u201cchecking that firms are being proportionate in their risk assessments of UK PEPs\u201d.<\/p>\n \u201cThis sets out that banks and others must be proportionate \u2013 with greater scrutiny on those who pose the greatest threat. And we have been clear that UK public figures should generally be considered low risk,\u201d Pritchard said.<\/p>\n Ms Pritchard added that the aims of the review are to keep the \u201csystem clean\u201d but not deny PEPs the access to financial products and \u201cservices necessary for everyday life\u201d.<\/p>\n![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/secondary\/4943422.jpg?r=1693884439349\")
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