FCA statement following NatWest Board announcement

Commenting on today’s announcement from the NatWest Board regarding recent allegations, Sheldon Mills, Executive Director, Consumers and Competition said: ‘We have raised concerns with NatWest Group and Coutts about the allegations relating to account closures and breach of customer confidentiality since these came to light.

‘We made clear our expectation that these issues should be independently reviewed and note today’s statement from the NatWest Group Board confirming this will happen. It is vital that the review is well resourced and those conducting it have access to all the necessary information and people in order to investigate what happened swiftly and fully.

‘On the basis of the review and any steps taken by other authorities, such as the Financial Ombudsman Service or Information Commissioner, on relevant complaints, we will decide if any further action is necessary.’

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