Emma RadmoreFCA has added to its suite of guidance on Covid-19 issues with a pages setting out help available to SMEs. The guidance explains what BBLS and CBILS do, and explains the guidance FCA has given to banks and insurers on how it expects them to treat their small business customers during the crisis.
It also reminds SME that nearly all of them meet the criteria to be able to complain to FOS, and explains how they should do this and how FOS will handle complaints that arise under Government schemes.
It also notes that most business lending is unregulated, so FCA has limited power to intervene directly.
