Lawyer Monthly - February 2022

DELIVERING JUSTICE FOR SMEs Financial Ombudsman Service to cover businesses with turnover of up to £6.5 million; 2. Access to an appropriate ombudsman scheme for SMEs with turnover of between £6.5 million and £10 million and a balance sheet up to £7.5 million; 3. The creation of a voluntary business banking ombudsman scheme for eligible historic cases; 4. The creation of an independent and transparent advisory council with the ability to consider emerging trends and issues regarding access to finance, the treatment of SME customers by financial services providers and the provision of appropriate support to SMEs to ensure there is an ongoing dialogue to address potential challenges early and effectively. Could you summarise what services the BBRS provides and what makes a business eligible to receive them? The BBRS has been designed by the seven participating banks, in partnership with SMEs and UK Finance, to meet small businesses’ needs in seeking to resolve disputes with their

RkJQdWJsaXNoZXIy Mjk3Mzkz