ARTICLE...
Tessera Viewpoint
I would like to start this article by thanking everyone who made it to the Half Yearly Meeting in February. This year saw the largest attendance to date and the sessions certainly opened up some interesting debates.
A key topic was that of audits to be carried out on buyer so that sellers can reduce their pre-sale due diligence and to ensure that standards continue to improve within the sector. A lively workshop produced a wealth of ideas which are being progressed via the Governance Working Party and the DBSG Governing Committee.
Another topic discussed at the HYM was the extent to which contingency collectors should be moving into purchasing debt and whether purchasers are looking to develop contingent work.
Even though this is traditionally a quiet time of year, we've never been more active at the DBSG. The latest Sellers Only Lunch took place in March and, again, it was great to see so many members becoming involved in the Governance and Data Quality working parties. Your input and feedback is essential to make sure we are making the right decisions for the benefit of all members.
For further information on the next Sellers Only Lunch, simply contact Adriana on 0191 2865656 or email adriana.gallidavison@csa-uk.com.
DBSG and other relevant bodies also met with BIS recently to discuss the sending of arrears notices and annual statements – as required by CCA06.
There was clear consensus at the stakeholder meeting that sending any statements to gone-away and IVA accounts was not the answer since this would not prevent identity theft, would upset new occupiers and could potentially place creditors and debt buyers in breach of OFT, data protection and unfair relationship regulations.
BIS were made fully aware of our concerns and accept their proposal to reduce the content of the statements does not address any of the issues. Their next action is to take stock of the position using all of the information provided at the meeting and they have asked for further evidence and statistics where possible.
The best outcome for all would be a change to the Primary Legislation and I asked for this to be looked at. BIS advised a change to Primary Legislation is a lengthy process and the Government would require a detailed argument as to why the law should be changed. This is now being compiled following consultation with Geoff Lawler of the Public Affairs Company.
DBSG will be seeking evidence from Members and lobbying for a change to the Primary Legislation. No matter how lengthy the process, this is the only and best outcome for the industry and the consumer and we will be seeking support from other trade bodies including BBA and FLA.
Continuing with lobbying, the consultation period is now closed for the proposed changes to the Edited Register. The CSA – drawing on the expertise and comments of its members – has submitted a detailed response which can be found on the DBSG website.
We believe we have made a strong case for keeping the Edited Electoral Register, providing compelling facts and figures as to what impact abolition would have, not only on our industry, but also on the economy.
The CSA will also continue with these lobbying efforts and we are seeking access to the Full Electoral Register.
The DBSG Governing Committee and Working parties continue to meet regularly to discuss the issues and we will endeavour to keep members informed and up-to-date, with any news and updates within the specific areas.
Money laundering is another hot topic at the moment, with the OFT having regulatory powers over Category A licence holders. All DBSG purchase members should have registered with the OFT for 'money laundering' and notification should have been sent to you directly from the OFT.
We have recently sent out information to all DBSG members relating to SCOR and the PoR Compliance Certification Exercise, which will be carried out by SCOR in the coming months for all DBSG members who access this data. For more information email claire.aynsley@csa-uk.com.
And finally there is certainly no rest for the wicked and we are already busily preparing for this year's annual conference, to be held on 8th and 9th September at the Hilton Metropole in Birmingham. This is your opportunity to increase your exposure, network with industry movers and shakers and gain valuable updates on compliance and other information relevant to your business. For more information, simply head online to www.dbsg-uk.com.
I look forward to catching up with you very soon.
Leigh Berkley
DBSG Chairman
Chief Executive, Tessera
