Rathbones is pausing the onboarding of new high-risk clients after a review led by a financial watchdog. The company says it is making changes required following the review, which affect its ability to take on certain types of customers. Several outlets report that the move is voluntary and is focused specifically on halting intake for higher-risk clients rather than ending existing services for all customers.
The announcement is met with a sharp market reaction. One report says Rathbones’ shares fall by around 16%, after the firm disclosed that the required changes will cost an estimated £60 million. The overall picture across the sources is that the decision is linked to regulatory scrutiny and compliance adjustments, prompting operational changes and associated costs.
While details of the review and the precise criteria for “high-risk” clients are not fully specified in the provided excerpts, all sources agree on the core elements: Rathbones pauses new high-risk client onboarding, the action follows a watchdog-led assessment, and investors respond negatively to the financial impact.
