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Tessera Viewpoint
It has been a very busy few weeks in the industry.
The DBSG has been working on a number of consultations from the OFT and the government and the results have been good, culminating in an official CSA/DBSG response to the HMT/BIS Consultation.
In the response, the DBSG has called for a 'new rule book' to assist the FCA in regulating debt buyers and collection agencies in the future.
Both the CSA and the DBSG have built up strong working relationships with the OFT and the danger in developing a new framework for regulation is that all the good, positive and productive work – on both sides of the relationship – will have been wasted.
Both parties believe the success of any future reforms to consumer credit will rely on heeding lessons learnt and on industry-wide consultations.
Similarly, a response to the second consultation – Building a Stronger System – which tackles the options for future regulation.
The DBSG is also being consulted as a key stakeholder in the OFT's Debt Collection Guidance Review. A team of senior representatives attended a workshop at the OFT recently and found it a refreshing step in the right direction for engagement with stakeholders on such a vital piece of guidance.
The DBSG will will providing a separate response – alongside the CSA's own – which will focus on the perspective of the buyer and the seller.
A members' only compliance meeting has given people within the industry the opportunity to discuss and digest the response in greater detail prior to the final submission.
Elsewhere, the next DBSG Sellers' Lunch is set to take place at the Priest House, Castle Donnington on Thursday 26th May. As well as the usual opportunities to discuss the industry, Claire Aynsley and Peter Wallwork will be attending – so get your questions ready!
To book your place at this event, call Adriana Galli-Davison on 0191 271 8041.
Original article courtesy of DBSG
