Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
Filter by Categories
Board Members
Board: no title
Board: non-practitioner members
Board: practitioner members
Member spotlight
Press articles
Press releases
Speeches & panels

BSB Consultation: What do good banking outcomes look like to consumers?

The BSB is today (2 November 2017) launching a Consultation Paper on ‘What do good banking outcomes look like to consumers’. The purpose of this consultation is to seek views, in particular from consumer and civil society organisations, about what the outcomes of a good banking culture look like to consumers. This will inform the BSB’s work to identify good practice by helping us develop and refine the framework for this thinking.

Download the Consultation and SAVE TO DESKTOP BEFORE FILLING IN (pdf 1.8MB) 

**To save your responses in the document, please ensure that you have downloaded the pdf file in Adobe Acrobat Reader and are not editing the document in an html page. Download and save the file to your desktop, then fill in, save and return to

Deadline for responses: close of 26 January 2018

To facilitate our thinking we have developed what we have called our Consumer Framework. The intention behind this framework is to:

  1. enable us to increase our understanding of consumer issues and concerns as they relate to aspects of the BSB’s work;
  2. provide the basis for the creation of good practice guidelines for firms that serve consumers, along with a common language for both firms and consumer organisations; and
  3. enable consumer and civil society organisations to engage more readily with aspects of the BSB’s work.

We would like your views to inform the development of our Consumer Framework.

Download the Consultation

Responses can be recorded directly in the document itself simply by downloading and saving to desktop with Adobe Acrobat Reader before filling in, then saving and emailing to once responses have been added.

Who should respond to this Consultation?

This consultation is open to all interested parties, but we would particularly welcome – at this early stage of the work – views from consumer and civil society organisations. We recognise that these organisations are often very constrained in terms of time and resources, but any such input as they are able to provide (and in any format) would be very welcome.

How to respond to this Consultation

We welcome written responses from those interested in this consultation and have provided questions to guide responses.  Please submit responses via email to

A template for responses is provided in the document itself, but we are happy to accept responses in other formats. If you have any queries or requests for alternative ways to feed into our consultation, for example via a meeting, please contact us via the email address above or telephone Martin Coppack on 07718 580320.

Next step after Consultation

Following this consultation we will publish a further and fuller version of the Consumer Framework. We will consult with member firms and others about whether and how the outcomes identified can help in the development of standards of good practice that have value to consumers and that are relevant and applicable to consumer-facing firms of all business models, sizes and structures, and in the context of ongoing changes in technology.

Senior Managers and Certification Regime

Exploring how the SMCR - and especially Certification - can be implemented in the most effective way across the sector.

The Senior Managers and Certification Regime is a major regulatory change that will affect all banks and building societies. Responding to recommendations by the Parliamentary Commission on Banking Standards, the government and regulators have together developed a comprehensive framework to ensure better accountability and responsibility for behaviour, competence and culture in banks and building societies. The new framework provides an opportunity for the industry to focus on and demonstrate a culture of professionalism. We are working with firms and regulators to facilitate this, including areas where a common approach across firms could support both the objectives of the regime and the skills and development of the people covered by it.


Evaluating whether a more 'professional' approach to banking would improve behaviour and competence across the industry.

The Parliamentary Commission on Banking Standards found that 'banking culture has all too often been characterised by an absence of any sense of collective responsibility to uphold the reputation of the industry', and argued that a greater focus on professionalism could be an answer to this. Working with a leading team at the University of Leeds, we are researching the issues around professionalism in banking. In particular, we are reviewing how professional qualifications are currently used across the sector, and at whether a stronger role for professional bodies, along the lines seen in some other sectors, like medicine or law, would help raise standards. To inform this work and develop a rounded picture of 'professionalism' and what it means in banking, we are surveying banks and building societies, professional bodies and a wide range of other interested groups, including consumer bodies and investors.


Providing an honest and impartial assessment to Boards of progress against objectives on behaviour, competence and culture.

The BSB assessment exercise presents Boards with an objective and impartial view of their firm's culture, identifying where things are working well and recommending areas for improvement. It draws on information not only from Boards and senior teams, but also from employees, investors (or members), trade unions, customer groups and other relevant bodies. In doing so, it will provide constructive challenge to each firm individually, while building a collective understanding of common issues across the industry, or sectors within it. We undertook our first annual assessment exercise in 2015 with ten firms (Barclays, Citi, HSBC Bank, Lloyds Banking Group, Metro Bank, Morgan Stanley International, Nationwide, RBS, Santander UK and Standard Chartered). The BSB itself will not publish individual assessment reports - each firm owns its own report - but key themes and messages will be set out in the BSB's annual report, the first of which will be published in Spring 2016. Given that Board engagement is central to the assessment work, only firms that have their headquarters in the UK are eligible for the full assessment exercise. All firms, including branches of firms headquartered overseas, will however be included in a focused membership-wide survey, which will allow each participating firm to benchmark itself against its peer group.



If your bank/building society has not responded adequately, or in time, to a complaint that you have already made, you can register your complaint with the Financial Ombudsman Service. Which offers a guide on consumer rights when taking a complaint to the Financial Ombudsman Service.


If you have a problem or query relating to your financial affairs, or are seeking personal finance advice or guidance, there is free, impartial information available from the following organisations:


If you work in the financial services industry and are concerned about any activities conducted by your employer or any other firm or individual, you may find the Financial Conduct Authority and the Prudential Regulation Authority's guidelines on whistleblowing helpful. It explains what constitutes whistleblowing, and what procedures are in place to respond to blow the whistle and how your anonymity would be protected. Public Concern at Work, the whistleblowing charity, also offers support and advice to individuals and employers about how to report concerns and how to establish whistleblowing frameworks.


If you are seeking the services of an independent financial adviser, Unbiased may be able to help, or if you are looking for more general financial guidance, the Money Advice Service may be a useful place to start.