Adherence to the following antitrust guidance will help to ensure that all meetings within the framework of the British Bankers’ Association (“BBA”), such as advisory panels, working groups and liaison groups (the “BBA meetings”), do not give rise to any competition concerns. These antitrust guidelines complement existing compliance programmes of individual BBA members.
BBA members should not exchange competitively sensitive information The dialogue between BBA members should be limited to discussing concerns of general interest relating to the development of the market and should not involve any exchange of competitively sensitive information. In particular, the following information should not be exchanged:
current/recent (i.e. within the past six months) pricing information;
current/recent customer information;
future pricing intentions;
future customer strategy;
current/recent margin information; and
current input/supply costs.
All BBA Meetings should follow BBA standard procedure
In accordance with BBA standard procedure, written agendas and minutes should be prepared for all BBA meetings. In the context of less senior fora, it will be sufficient for the minutes to indicate only the topics discussed, what was agreed, and the action points arising (with comments/positions ascribed to particular individuals only by exception).
If an inappropriate topic is ever raised during a BBA meeting, the Chairman, whether the BBA executive or another panel member, should terminate the discussion and report the incident to the CEO and to ask for the contact details of the BBA’s lawyer.
We are in the midst of a consumer-led revolution in the way we do our day-to-day banking. Customers love the new technology that is allowing them to bank round the clock and which is providing us all with our own personal financial advisors. The BBA’s influential Way We Bank Now report shows that through the…
The Private Banking and Wealth Management (‘PBWM’) industry, at its core, helps customers to invest their savings and manage their finances, while empowering them to look forward and build their futures with confidence. The sector has experienced significant growth in assets in recent years, boosting broader UK economic growth. This report highlights the important contribution…
Ensuring that customers in vulnerable circumstances are treated not only fairly but with empathy and sensitivity to their circumstances is a growing priority for the financial services industry. That is why the industry, together with charities and consumer groups, proactively joined forces last year to launch the very first Vulnerability Taskforce in order to look at how the experience and…
The competitiveness of the UK as a centre for international banking In late 2014, the BBA began discussing the UK’s competitiveness as an international banking centre with its members and with stakeholders within government and regulatory bodies. It became clear that there was a widespread interest in developing a strategy to safeguard the position of the UK as a…