DTI ministers are concerned that SMEs should have an easier time finding the best deal among the main banks and that the banks themselves must reduce the complexity of transfering from one bank to another.
A Competition Commission report into the supply of services to SMEs has already concluded that a number of complex monopolies exist among the banks.
Reports in the press point toward ministers demanding that banks allow the creation of ‘portable credit histories’ to allow SMEs to move banking providers.
The commission’s report concludes that some bank practices clearly restrict competition in the provision of services to SMEs.
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements
Charles Tilley's departure from CIMA leaves the accounting world quieter, but his institute with an exciting foundation