Question to the HM Treasury:

To ask Her Majesty's Government what plans they have to commission an independent review into the structure and effectiveness of Banking Competition Remedies Ltd, in particular the (1) role of Baringa Partners, and (2) selection of participating lenders and their impact in taking market share.

Banking Competition Remedies Ltd (BCR) is the independent body established to oversee and implement the Royal Bank of Scotland (RBS) funded alternative remedies package, which replaced RBS’ original State aid commitment to divest its Williams & Glyn business.

The performance of BCR is overseen by an independent monitor, Mazars, appointed by HM Treasury. HM Treasury has no ownership or control rights over BCR, which is governed by an independent board of directors.