Multimillion-Pound Programme: Nigel Vooght and Increase Competition

multimillion-pound programme: The Banking Competition Remedies body, responsible for doling out millions of pounds to UK challenger banks to increase competition, announced on Wednesday it was parting ways with one of its five directors over a conflict of interest relating to an applicant for a 5m grant, according to The Independent. BCR said Nigel Vooght's link to the unnamed business was declared openly and in good time . The announcement magnified the inconsistent ways in which the multimillion-pound programme and its missteps have been managed to date. For a programme intended to smooth out any remaining irregularities in the banking sector a decade on from the 2008 crash, the process has been anything but. Vooght's conflict of interest is not BCR's first, but it is the only one to prompt a resignation, or a proactive and public declaration, by its directors. But only once the Times aired the allegations did BCR publicly acknowledge it had been aware of the conflict, saying it was appropriately managed. A month after handing a 100m grant to the digital upstart Starling Bank in February, it emerged Aidene Walsh, a BCR board member, had a close working history with Starling and its founder, Anne Boden. (news.financializer.com). As reported in the news.