Watchdog Shakes Up UK Open Banking Body After 'Failings'

By Lucia Osborne-Crowley (October 1, 2021, 5:30 PM BST) -- The competition watchdog said on Friday that it has uncovered bullying, harassment, discrimination and victimization at the U.K.'s open banking body and that the agency's boss has resigned as part of an overhaul.

The Competition and Markets Authority said that its investigation into the Open Banking Implementation Entity — a body launched in 2017 to oversee the roll-out of open banking in Britain — found that the organization is poorly managed and that that leadership failures led to a culture of bullying and harassment.

The Open Banking Implementation trustee, Imran Gulamhuseinwala, has resigned as a result of the revelations published on...

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