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News

Selftrade to open UK retail bank

Monday 7 November 2011 14:58 CET | News

Selftrade, the UK subsidiary of French retail stockbroker Boursorama which is owned by the European group Societe Generale, has won regulatory clearance from the Financial Services Authority (FSA) to launch a UK retail bank.

As a result, the company will be able to start taking deposits and offer retail banking products such as investment trusts.

According to Selftrade, the first product of its UK retail bank will be a cash Individual Savings Account (ISA), a tax-free investment product for retail investors. The cash ISA is set to become available to Selftrades account holders in December 2011.
 


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Keywords: Selftrade, Boursorama, Societe Generale, Financial Services Authority
Categories: Payments & Commerce
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Countries: World
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