Statements

APPG on Fairer Business Banking Statement Updates

Financial Services Bill - Guest blog from Baroness Hayman, Co-Chair of Peers for Planet

  Peers have secured significant changes to the Financial Services Bill in the House of Lords this week, which will ensure that climate considerations are part of the future regulatory framework for the UK’s financial services sector. The Bill is the first step in a series of wider financial services sector reforms that will set the framework for a new approach for the UK sector.  Financial services can play a pivotal role in tackling the climate and biodiversity crisis and, in spite of growing momentum within the sector to identify and report on climate change risks, peers were concerned that
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BBRS Statement from the APPG on Fair Business Banking - 15/02/2021

  After years fighting for justice for SMEs, the APPG on Fair Business Banking has been instrumental in creating the Business Banking Resolution Service (BBRS).  We spent two years around the table working intensely with the numerous stakeholder groups in order to set up a system that is robust and independent.  However, from the start the APPG has had concerns about the scope of the service.  You can read our original position statement here. Our core focus has always been in line with the overarching principles set out by the then Chancellor, Phillip Hammond, on hearing a “meaningful” number of historic
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Statement from the Bankers for NetZero Initiative: UK Net Zero Banking Sector Commitment for COP26  

  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 is made up of the APPG on Fair Business Banking, Volans and Re:Pattern. The Bankers for Net Zero proposed commitment framework is the most ambitious set of climate change commitments for bankers to date and urges banks to set a clear date for net zero climate emissions, commit to divesting from fossil fuels and actively advocate for intervention to accelerate
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Statement from the APPG on Fair Business Banking: Back Bench MPs Call for Evidence in City Law Firm Review of Insolvency Industry - 06/01/21

The All-Party Parliamentary Group on Fair Business Banking, supported by City law firm Humphries Kerstetter LLP, is to conduct an in-depth investigation into standards in the UK insolvency profession. The work is aimed at building on and supporting Governmental studies into regulation and standards in the industry, including the ongoing review of the regulatory system for the industry. As part of its six-month project the APPG has already calls for evidence from the main players in the industry including the major accountancy firms, the regulatory bodies and the Insolvency Service. The APPG is now asking for anyone else with information
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Statement from the APPG on Fair Business Banking - The Business Bank Resolution Service (BBRS) 1/12/2020

Following the campaigns of the APPG, SME Alliance and others for justice for those who had been mistreated by their bank, the BBRS was established as a voluntary scheme by the 7 largest banks. The APPG absolutely accepts that there are some unreasonable limitations with the BBRS and have set our concerns from the very start 131218 Stephen Jones UK Finance Due to the nature and of some of these historic cases and the current legal framework, the BBRS had to be a voluntary scheme. We have always objected to a turnover threshold, but this had to be a voluntary
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