SME banking 2002 undertaking report

The CMA has published the 2023 audit report into whether 8 UK banks are complying with undertakings they gave in 2002 not to bundle loans and accounts for SMEs. The 8 banks currently subject to the undertakings have submitted their audits for the past year, which showed no suspected breaches. The CMA has noted some shortcomings in specific areas of systems and controls for certain banks to improve on.

Emma Radmore