Bank Sepah International
The FSA is has imposed an asset requirement (an Own Initiative Variation of Permission) on Bank Sepah International, preventing it from moving any of its assets out of the UK without the FSA's permission, with immediate effect.
This action is intended to ensure that Bank Sepah International maintains sufficient assets in the UK to satisfy the claims of UK depositors and is taken with regard to the FSA's statutory objective of protecting the interests of consumers.