Simon – who was previously the director general of the Institute of Directors – will chair the finance and banking industry’s review into the complaints and alternative dispute resolution (ADR) landscape for the UK SME market.
The independent review will include an evidence-based, comprehensive analysis of the scale and complexity of banking complaints from SMEs.
The review will particularly look at disputes between financial service providers (excluding insurance products) and SME customers that remain unsolved following the normal customer complaint procedure and may be unsuitable to go through the courts.
Simon will lead the review following his appointment by a diverse selection panel, which comprised representatives from the Fair Business Banking and Finance APPG, the Federation of Small Businesses and the independent chairs of the UK Finance SME Advisory Group and the IFABL Standards Council.
“SMEs are an important driver of growth and how the sector interacts with financial providers is crucial in helping support the UK economy,” said Simon.
“This review is an important step in understanding the best route to SME complaints redress with all options up for consideration.
“I am determined that this will be a thorough review with no stone left unturned, using a combination of academic research, stakeholder evidence and international comparisons to identify best practice.”
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