Debanked because of PEP risk:- “WE ARE ALL NIGEL’S NOW”
09/05/2024
Former Bank of England economist Andy Haldane has claimed he was debanked like Nigel Farage after being refused an account because of his “POLITICAL” CONNECTIONS.
Mr Haldane said he was turned down by an unnamed lender last year, which told him the decision was:-
- “Because you are politically connected by working for the Bank of England.”
In a speech on Wednesday night at the Royal Society of Arts, where Mr Haldane is now chief executive, he said:
- “Three problems with that:
- One, I wasn’t working for the Bank of England [by that point].
- Two, the Bank of England is, by statute, independent from the government.
- Third, the Bank of England was their regulator, so the risk was to their regulator.”
Mr Haldane referenced Mr Farage, whose bank account was closed last year, and highlighted the story with a point on a slideshow saying, “WE ARE ALL NIGEL’S NOW,” –
The anecdote formed part of Mr Haldane’s argument that regulation had gone too far in the City and was now crushing growth by putting off any risk-taking.
The Bank’s former chief economist said regulations with “the best of intentions” were “CHILLING RISK APPETITE AND FORESTALLING INVESTING”.
He said many new rules the government and regulators introduced were “PENNY WISE BUT POUND FOOLISH”
Source
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.