FSA has announced that seven more banks have volunteered to review their sale of interest rate hedging products to SMEs. This follows the agreement signed between FSA and the four major banks (see FReD 6 July). FSA has also published a note on the role and responsibilities of the independent reviewer, who will be present at any meetings or calls with the customer during the review process and will assess and calculate redress for each case. (Source: FSA Announcement, and Update on Role of the Independent Reviewer)