The ICB published its final report on 12 September 2011. We set out a summary of the central issues in the September edition of Compliance Clarified. Since the report was published, the following has taken place:

  • The ICB report was debated in the House of Lords on 15 September 2011 and a transcript of the debate has been published;
  • On 11 October 2011 the Treasury Committee announced that it will begin an inquiry into the ICB’s final report; and
  • The Payments Council has announced in a press release that it approves of recommendations to introduce an enhanced account switching service designed to facilitate easier current account switching for customers. In addition to greater transparency in the retail banking sector, the Payments Council believes easier switching between current accounts will improve competition between rival banks.

Further information

Click here for our article on the ICB report.

Click here for the ICB report.

For a summary of the ICB report please see our September edition of Compliance Clarified

Click here for a transcript of the House of Lords debate.

Click here to access the Treasury Committee’s website.

Click here for the Payments Council announcement.