The British Business Bank plc is committed to ensuring the best standards of corporate governance. The Board of Directors and Board committees support it in this mission.
The Board has overall accountability and responsibility for the management of risk within the British Business Bank. Our Risk Management Framework has been designed to align to the size, scale and complexity of the British Business Bank and has been benchmarked against other financial services institutions. The British Business Bank does not hold regulatory capital and is not regulated by the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA). However, one of its subsidiaries representing less than 1% of the portfolio, Capital for Enterprise Fund Management, is regulated by the FCA for controlling but not holding client money. We are subject to other applicable laws and regulations and we aim to meet good practice standards. We have policies and procedures in place designed to ensure compliance with applicable laws and regulations, including anti money laundering, data protection and freedom of information, and we follow best practice where appropriate and applicable.
To ensure robust and effective decision making within the Bank, there are approved terms of reference for each executive level investment committee for each subsidiary which makes investment decisions.