Source · Select Committees · Treasury Committee
Eighth Report - SME Finance
Treasury Committee
HC 27
Published 8 May 2024
Conclusions (1)
7
Conclusion
Not Addressed
Para 59
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 …
Government Response Summary
The government notes the committee's conclusion regarding the Business Banking Resolution Service's (BBRS) perceived lack of independence, and states that the BBRS will close to new registrations on 13 December 2024, with its future being a matter for the BBRS itself.