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BANKING

Swedish bank bans sneakers

A manager at Swedish bank Handelsbanken has demanded "proper attire" from his staff, enforcing a total ban on sneakers even on "casual Friday", according to a report from the Realtid.se website.

Swedish bank bans sneakers

In a mail sent to staff, Per Elcar, head of a division of Handelsbanken Capital Markets, referred to the end of the summer and explained his decision to enforce a stricter dress code.

“We all have different ways to keep us alert mentally… but to create a base level and to develop a common value system we have decided to have rules for how we dress at work,” Per Elcar wrote in his mail, published in full on Realtid.se.

Elcar underlined that the division “works in a competitive environment” and identified sneakers as the item of clothing which should stay out of the office at all times, even on “casual Fridays”.

Elcar confirmed to Realtid.se that he had sent the mail.

“I think it comes across clearly that you should have decent clothes,” he said.

Elcar continued to develop his idea of what constitutes “decent clothing” by ruling out jeans and calling for a shirt, “or something similar for women, a pair of nice trousers and a pair of shoes which suit”.

These rules are to be enforced immediately and would apply on Monday to Thursday, with some relaxation of the dress code on Friday.

“On Fridays it is a question of nice jeans and a polo shirt is okay, but keep it neat. Sneakers you can leave at home even on Fridays,” he advised.

When asked by Realtid.se how he dressed on “casual Fridays”, the 49-year-old from Täby replied:

“I always have the same thing on me: suit, shirt and tie.”

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BREXIT

Brits in EU risk losing UK bank accounts ‘within weeks’

Some of Britain's biggest banks have begun contacting customers in European Union countries, warning them that their accounts will be closed down within weeks because the cost and complexity of operating without a continuation of pan-European banking rules is too much.

Brits in EU risk losing UK bank accounts 'within weeks'
Lloyds Bank expects to close at least 13,000 accounts. Photo: Lloyds Bank
According to a report in The Times, thousands of Britons who live in Europe face being stripped of their UK bank accounts and credit cards, because of the UK government's failure to agree rules for operating after Brexit. 
 
Each of the EU's 27 member states has different rules for cross-border bank accounts which will start to apply immediately the UK's transition period ends on 31st December 2020. 
 
“In some cases, continuing to serve customers would be incredibly complex, extremely expensive and very time-consuming, and simply would not make economic sense,” a source at one British bank told the newspaper. “This is passporting — this is the reality of Brexit.”
 
 
If a way is not found to continue pan-European banking rules, or passporting, UK banks will br breaking the law if they don't apply for new banking licenses in each European Union Country. 
 
 
Lloyds, Britain’s biggest banking group, began writing to customers in August, warning them that their bank accounts would  close down on December 31.
 
The bank estimates that 13,000 customers, including those based in Holland, Slovakia, Germany, Ireland, Italy and Portugal, would lose their accounts. 
 
“If customers have regular deposits into, or payments out of, their account, they will need to make other arrangements before their account is closed,” the bank said. 
 
Barclays and Coutts have also started contacting customers. 
 
“In light of the UK leaving the EU at the end of 2020, we continue to review the services we offer to customers within the European Economic Area (EEA), and any impacted customers will be contacted directly,” Barclays said in a statement. “The timings for account closure will depend on the type of product that a customer holds, but we will always give notice to customers.”
 
“In the event that no alternative to the European Economic Area passporting regime for financial services is agreed between the UK and EU, we have taken the difficult decision to withdraw from offering our services to clients who reside in the EEA,” Coutts said. 
 
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