APPG on Fairer Business Banking Statement Updates

Foreign Affairs Committee Report on Illicit finance and the war in Ukraine - Statement from the APPGs on Fair Business Banking and Anti-Corruption & Responsible Tax

The Foreign Affairs Committee just published a damning report: ‘The cost of complacency: illicit finance and the war in Ukraine’. It sets out a sad indictment of the state of affairs of our economic crime response, and proposes a series of measures for the Government to tackle the scourge of dirty money. The Committee finds that, so far, the Government’s rhetoric of “clamping down” has not been matched with constructive action. The report concludes that the Government’s lack of willingness to bring forward legislation stemming the flow of Russian money has directly contributed to the UK’s status as a safe
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HBOS Reading Compensation - Statement from the APPG for Fair Business Banking

Throughout months of engagement with Lloyds Banking Group, the Foskett Panel and the SME Alliance to improve the customer experience of the Re-Review Process, we pushed to make it clear that many victims of the HBOS Reading fraud simply cannot continue to wait any longer for compensation, having already waited 15 years. For that reason, we are pleased to announce the option for a single payout for all HBOS Reading victims worth up to £3m per victim, costing Lloyds Banking Group up to £600m. During previous engagement, it was clear that all parties agree that the Foskett Panel is suitably
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Bankers for Net Zero - Consultative Commitments

The following was published as a consultative text in January 2020. It went through a series of discussion with various banks however nothing was ever ratified. Final commitment texts sit with the United Nations Environment Programme Finance Initiative. We look forward to continue working with the Net Zero Banking Alliance to bring the ratified commitments to action in the United Kingdom. Bankers for Net Zero is an initiative leading work to develop a set of policy recommendations ahead of COP26 designed to create a regulatory environment that enables banks to play their part in financing the net-zero transition. The initiative
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Joint Statement from Lloyds Banking Group and the APPG on Fair Business Banking

Kevin Hollinrake MP, co-chair of the APPG on Fair Business Banking, and Charlie Nunn, group chief executive of Lloyds Banking Group, have held an introductory meeting at Charlie’s request to discuss the challenges facing the UK’s SMEs. Charlie reaffirmed Lloyds Banking Group’s commitment to support SMEs as one of the largest lenders to the sector in the UK and a key player in the government’s emergency lending schemes. Kevin invited Lloyds to work with the APPG to build on the successful provision of Bounce Back Loans and CBILS to improve access to finance and business opportunities for SMEs including through
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Grave misconduct in insolvency profession uncovered 21st  June 2021 Today’s landmark provisional findings against KPMG and an independent insolvency practitioner David Costley-Wood have exposed a pattern of exploitation and serious conflicts of interest in the insolvency profession. This is a timely reminder of the potential for serious failures in this industry and reinforces the need for a strong, independent regulator to ensure transparency and fairness are prioritised in this industry. The APPG on Fair Business Banking launched an inquiry into the insolvency profession in January 2021 and results of an industry-wide call for evidence are expected in the Autumn. Ahead
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