Source · Select Committees · Treasury Committee
Recommendation 7
7
Paragraph: 59
Business Banking Resolution Service lacks perceived independence from the financial industry
Conclusion
There is no clear evidence that the seven participating banks control the BBRS on an operational level. However, the structure and remit of the BBRS were determined with their consent. Dispute resolution must be independent, and perhaps as importantly, be seen to be independent of the financial services industry. Despite the assurances we have been given to the contrary, this does not appear to have been the case with the BBRS.
Paragraph Reference:
59
Government Response
A response document is linked to this report, dated 12 December 2024. Response attribution to this conclusion has not been verified. Read the response document ↗