On 7 July 2023, the new Financial Services and Markets Act 2023 (the Act) was published, marking a significant step in the development of the UK’s post-Brexit ‘Smarter Regulatory.
In his Mansion House speech on 10 July 2023, the Chancellor of the Exchequer Jeremy Hunt referred to further planned reforms - the ‘Mansion House reforms’ - that build on December.
Banks will be forced to explain and delay any decision to close an account under new rules, protecting freedom of expression. The government has stepped in to address fears that banks are terminating accounts because they disagree with someone’s political beliefs. The changes will increase the notice period to 90 days – giving customers moreBanks will be forced to explain and delay any decision to close an account under new rules, protecting freedom of expression. The government has stepped in to address fears that banks are terminating accounts because they disagree with someone’s political beliefs. The changes will increase the notice period to 90 days – giving customers more » The FINANCIAL UK local news
UK Gov Imposes Clampdown on Unjust Bank Account Closures miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.