We are organised to be independent
What is the BBRS?
The Business Banking Resolution Service is an independent, not-for-profit company limited by guarantee and incorporated in England and Wales with registered number 12096333.
The BBRS has been established to provide an industry-funded, independent service to resolve eligible historical and future disputes between SMEs and participating banks, with a view to delivering fair and reasonable outcomes and without the need for litigation or external legal support.
As is common with industry dispute resolution schemes the BBRS is funded by the participating banks, but it is independently operated, managed and governed.
How the BBRS is run
The BBRS is independent of both the banks and of the businesses for which it will seek to resolve disputes. It is also independent of government, regulators and all other bodies.
The BBRS is governed by an independent Board, with relevant industry experience and knowledge of the broader stakeholder community. Alongside a minimum of three independent Non-Executive Directors, the serving Chief Executive Officer and Chief Adjudicator also sit on the BBRS Board as Executive Directors. In addition, the Board has a Bank Experienced Director, who has the skills and experience to provide the Board with insights into the banking sector.
The BBRS is setting up two panels – an SME Liaison Panel and a Bank Liaison Panel – which will act as independent and transparent advisory councils to the organisation. The SME liaison panel was proposed in the UK Finance response to the Walker Review (where it was referred to as an SME Advisory Council).
The panels do not have decision-making powers but will provide important input to the work of the BBRS and will consider, in relation to issues relevant to the BBRS, emerging trends and areas of concern regarding access to finance and the treatment of SMEs. Each will also be able to make recommendations to the BBRS concerning the operation of its scheme.