- Establishing a tribunal system for financial disputes involving SMEs
- What is the proposal and where is it coming from?
- How will a tribunal help SMEs resolve disputes against banks?
- How effective have such tribunals been in the past?
- How would tribunals prevent scandals, such as Royal Bank of Scotland’s Global Restructuring Group (GRG) scandal, from recurring?
- What role, if any, will lawyers play? Are there any other points lawyers should be aware of?
Financial Services analysis: Will a proposed lawyer-free forum for financial disputes provide an open and robust setting for mid-market clients, including small and medium-sized enterprises (SMEs), to hold banks to account? Richard Samuel, barrister at 3 Hare Court Chambers, explains why lawyers should be excited about the prospect of a financial services tribunal.
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