Yeah, I was thinking the same... along with "don't let the door bang behind you on the way out". Not that I voted for Brexit - quite the opposite as it happens,

Yeah, I was thinking the same... along with "don't let the door bang behind you on the way out". Not that I voted for Brexit - quite the opposite as it happens, and I'd be a lot happier if we were still in the EU - but I don't have much patience with questionable excuses from businesses who failed to effectively compete with other companies in their space. If they were running a commercially viable operation in the U.K., or had realistic hopes of doing so in the foreseeable future, of course they'd have applied for a UK banking license. The only reason not to do so is if that isn't the case. Brexit has nothing to do with it, and I suppose we learn again that success requires more than just hubris and a truckload of money.