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FinecoBank
Delisting Announcement • Sep 15, 2023
4321_rns_2023-09-15_e5f5c4fd-c816-4cdd-85a9-516035fce178.pdf
Delisting Announcement
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| Informazione Regolamentata n. 1615-69-2023 |
Data/Ora Inizio Diffusione 15 Settembre 2023 18:33:31 |
Euronext Milan | ||
|---|---|---|---|---|
| Societa' | : | FINECOBANK | ||
| Identificativo Informazione Regolamentata |
: | 181169 | ||
| Nome utilizzatore | : | FINECOBANKN02 - Spolini | ||
| Tipologia | : | REGEM | ||
| Data/Ora Ricezione | : | 15 Settembre 2023 18:33:30 | ||
| Data/Ora Inizio Diffusione |
: | 15 Settembre 2023 18:33:31 | ||
| Oggetto | : | PR_FINECO TO EXIT UK BUSINESS | ||
| Testo del comunicato |
Vedi allegato.
PRESS RELEASE
FinecoBank to exit UK business
Milan, September 15th 2023
The Board of Directors of FinecoBank approved the closure of the Bank's business in the UK market.
This decision is driven by the significant change in the regulatory landscape in the UK, after its exit from the European Union. In the new context, it would not have been possible anymore to maintain a capital light business model leveraging on Fineco Italian infrastructure.
The Bank has been delivering all its services in the UK from its headquarter under a regulatory framework known as "Temporary Regime ", which is allowed until December 2023. This model enabled to maintain a streamlined and efficient structure. This is no more possible as regulatory changes require a physical presence in the United Kingdom.
The closure of its business in the UK will be gradual without any disservice to the clients and with no material impacts on the numbers of the Bank.
Fineco will communicate with its UK customers to outline next steps.
Contacts: Fineco - Media Relations Fineco - Investor Relations Tel.: +39 02 2887 2256 Tel. +39 02 2887 3736/2358 [email protected] [email protected]
Barabino & Partners Tel. +39 02 72023535 Emma Ascani [email protected] +39 335 390 334