Law firm Travers Smith has this morning released its two-month-delayed report into the Farage debanking scandal, which parrots NatWest’s defence by saying the decision to debank him was a “commercial” one. It argues the “serious failings” were only in how it was communicated. Farage says he isn’t surprised seeing as Travers Smith’s emeritus chair is an anti-Brexit lawyer who described the referendum debate as “xenophobia, racism and nostalgia“. Foregone conclusion…
The report does reveal Coutts thought Farage was causing “reputational harm” and that his “stated beliefs” were against those of the bank. It claims that didn’t drive the decision despite the word Brexit turning up 86 times in documents about his removal and employees gloating about knocking “him down a peg or two“. The report also states Farage was re-designated as a “Politically Exposed Person” despite NatWest executives claiming he had no PEP status at all. Poor comms strategy…
Farage says it’s up to the Information Commissioner’s Office and industry regulator the FCA to look into this now. NatWest shares are down 16% today. When regulators come, investors go…
Read Farage’s full statement on the report below:
