City watchdog to contact MPs and other PEPs to ask if they have been debanked

Inquiry aims to find out extent of denial of banking services to politically exposed persons such as politicians and army leaders

The City watchdog is to write to politicians and civil servants asking whether they have been denied banking or other financial services, following the scandal that erupted after Nigel Farage's accounts were threatened with closure.

The Financial Conduct Authority plans to send letters on Tuesday to politically exposed persons (PEPs) - who include MPs, peers, leaders of UK political parties and senior ranking military officers - to ascertain whether individuals are struggling to secure services and how widespread the problem may be.