WhenTuesday, January 31st from 6pm - 7:30pm GMT.
WhereOnline via Zoom.
FormatThere'll be a great line-up of speakers plus ample scope for discussion and debate.
Why You Should Attend...
The need for this event has been inspired by what many people believe to be the appalling failure of The Business Banking Resolution Service (BBRS), which was established to handle compensation payable to victims of malpractice by UK banks.
The BBRS has been severely criticised by many stakeholders.
For example, consider these comments made by Kevin Hollinrake MP, when he was the Chair of the APPG on Fair Business Banking: “Heavily restricted eligibility rules” were to blame for the scheme’s poor performance and these rules had “conspired to avoid the very things we’ve campaigned so long and hard for – justice and compensation for those who’ve been denied it under previous flawed redress schemes.” And: “Quite frankly, the scheme is currently a shambles and a complete embarrassment to UK Finance and the seven member banks who designed it.” And: “The APPG warned them all in writing in 2018 that the eligibility criteria would exclude at least 85% of complainants and that’s proven to be the case.”
Scottish lawyer Cat MacLean, who resigned from her role on the BBRS’ SME Liaison Panel has also been critical. It’s been reported that she had “significant concerns about my professional credibility” if she remained on the Panel. She quit after concluding the BBRS was “completely defective” and that to remain would risk being “complicit in a cover-up”.
Strong words for sure from a respected MP who is now Parliamentary Under Secretary of State for Enterprise, Markets and Small Business; and a Scottish lawyer with extensive subject-matter expertise and dispute resolution experience. Both are credible witnesses to what’s been going on at the BBRS.
So what’s wrong with the BBRS? We believe it has 3 significant problems:
This is the second in a series of 3 TTF events about the BBRS. In our first event about it, held on Tuesday, December 13th, we focused on:
“Why the Business Banking Resolution Service is not fit for purpose; and what must now be done about it”
We believe those calling for the BBRS to be scrapped are right, because too many prospective claimants just don’t trust it. It needs to be replaced with something that is truly independent, where both sides can have the case properly and fairly assessed.
Could a new statutory tribunal system, along the lines of something like the employment tribunals service be the best way forward?
Our speakers at this important event include:
This is a not-to-be missed event for: