Review of the SME Banking Undertakings 2002
The Competition and Markets Authority's (CMA) purpose is to help people, businesses and the UK economy by protecting competition and tackling unfair behaviour.
About this consultation
We have launched a review of the provisions within the SME Banking Undertakings 2002 which remain in force. An earlier review resulted in the CMA deciding in 2016 to release all except for 4 provisions of the Undertakings. These remaining provisions (the ‘Limitation on Bundling Provisions’) require 8 banks not to compel customers to open or maintain a BCA as a condition for accessing business loans or deposit accounts.
The consultation document found on this page sets out the reasoning for the CMA’s decision to launch a review of the Limitation on Bundling provisions and seeks stakeholders’ views on:
- potential changes of circumstances that may mean that the Limitation on Bundling Provisions are no longer appropriate
- if such changes are identified, whether they mean that the Limitation on Bundling Provisions should be varied, superseded or released
- in the case of identifying the need to vary or supersede them, to set out the proposed changes that could be made
We are not seeking views on any other order or undertaking relevant to retail banking for small and medium-sized enterprises (SMEs).
We want to hear from you
We would particularly like to hear from respondents representing banks, small and medium-sized enterprises (SMEs), relevant regulators and government.
What happens next
The information received will inform the CMA’s provisional decision on the outcome, which will be the subject of a further consultation.
Responding to our consultation
This consultation closes at 5pm on Wednesday 7 May 2025. Please respond by email to the address below.
Please accompany your response with a non-confidential version which you would be willing for the CMA to publish alongside its provisional decision.
Contact
Send your response to the email address below with the subject line: SME Banking Undertakings review.
Your personal data
Your name and contact details are your personal data. In collecting, receiving, storing, accessing and using your personal data, the CMA, as controller, is processing your personal data. The CMA processes personal data in accordance with data protection law. The CMA is processing your personal data so that it can contact you again, should it need further help or information from you, in order to carry out its statutory duty under section 88(4) of the Fair Trading Act 1973 (as preserved in Schedule 24 Enterprise Act 2002) to keep under review undertakings and orders.
For more information about how the CMA processes personal data and your rights relating to that data, read our privacy notice.
Documents
Contact
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Competition and Markets Authority (CMA)
