128. Part 11 should be read in conjunction with the banks’ proposal coordinated by the British Bankers Association (BBA) published on the Retail banking market investigation case page [BBA, Proposal to implement the CMA’s remedy to standardise BCA opening procedures.] (‘BBA proposal’). The CMA has accept that proposal and it is therefore reflected in the drafting of Part 11.
129. The key component of this remedy is the Standard Information Set which is a series of information requirements which may be fulfilled by asking questions during account opening but may be sourced in some other way. It also includes common identification and verification requirements. The proposed Standard Information Set is set out in Part A of Schedule 3 to this Explanatory Note. The Order provides for the Standard Information Set to exist outside the Order. It will be included as a schedule to the explanatory note and then any valid amendments will be reflected in the version published by the BBA. Th
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