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Brexit

ECB set to visit banks in sign of post-Brexit rules crackdown

As ECB lines up decisions by end of the year, FN enquiries show it has not ruled out heading to branches in person

Since the UK's split with the EU, the ECB has been probing international lenders’ operations in the bloc to make sure they are not skirting access rules
Since the UK's split with the EU, the ECB has been probing international lenders’ operations in the bloc to make sure they are not skirting access rules Photo: Daniel Roland/Getty Images

Compliance experts fear a potential crackdown on post-Brexit rule breaches as the European Central Bank looks set to start visiting banks as part of its so-called desk-mapping review.

The ECB confirmed to Financial News in a Freedom of Information Act request that while there have not been any in-person visits conducted as part of the review so far,  "such visits might take place in the next stages".

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