UK wealth manager Rathbones halts new high-risk clients after regulatory review
( June 16, 2026, 12:10 GMT | Official Statement) -- MLex Summary: UK wealth manager Rathbones has paused onboarding of new clients that require enhanced due diligence, or EDD, a procedure required by anti-money laundering regulations for high-risk clients. The move follows a skilled person review and engagement with the Financial Conduct Authority. The group said the review identified areas for improvement in its UK wealth management business over implementation of the Consumer Duty and aspects of its compliance, oversight and assurance arrangements. Rathbones has also halted acceptance of inflows into general investment accounts from some existing EDD clients.Statement is attached....
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