DRF regularly sent out newsletters to their member base to update them on regulatory, training and compliance matters affecting their businesses.
You should have received a personal invite to our launch of our research findings; this is being held on the18th June in Manchester. Be sure to reserve your place by email@example.com
We are delighted to announce that we have again passed our annual audit from Edexcel with flying colours. We scored ‘A’ in all areas (the highest score), with particular reference to areas in good practice such as:
• Constantly updating the learning material and assessments
• Data from exam outcomes is used to review and amend the exam questions
• Individual learner needs met wherever possible
Members are reminded that our standards require members to train all client-facing staff to the standards contained within the Certificate in Debt Resolution (CertDR), this is also an OFT requirement listed in the Debt Management Guide.
To register your staff, please contact: firstname.lastname@example.org
Enquiry into MAS
Reminder – We emailed all members on 10th May regarding the House of Commons Treasury Select Committee Enquiry into Money Advice Service and asked for your views by 18th May. Please respond ASAP.
All first year inspections from the IPA have now been completed and any areas of weaknesses identified and we trust these have been rectified. We are now organising second visits, for the majority of members this will consist of remote checking plus a one day visit from the IPA. Please support IPA in organising these inspections.
The IPA agree dates direct with members with 2 or 3 months’ notice; however occasionally members cancel or postpone inspections with less than 28 days notice; this causes issues for the IPA as they occur ‘downtime’. To discourage this, the DRF Board agreed that any member who does this will be charged £500.
Your board are working hard on your behalf and engaging in a number of meetings with OFT/MAS/MALG/Insolvency Service. One of the areas you need to be aware of is the priorities of the OFT. Their immediate priorities appear to be:
• Gateway – this is the work the OFT do in granting new CCL’s and re-newing licences. One of the criteria they prefer is that DM companies are members of a Trade Association and have the appropriate training in place.
• Lead Introducers – as outlined in our recent Newsletter, this is a hot topic. Please ensure your lead introducers have a CCL.
• Web Marketing – The OFT are pro-actively checking all claims are true, any case studies are real and links correct.
If you have any concerns about regulation, please contact:email@example.com
DRF Affiliate Member
As part of our value added service to our members, we are keen to promote products that offer best in class services to our members.
Kingsbridge Risk Solutions has been accepted as a DRF Affiliate Member, it is a top 100 Chartered Insurance Broker, specialising in insurance solutions to companies providing IVAs, Trust Deeds and Debt Management Plans.
Kingsbridge offers expert advice for insolvency bonding and general insurance to its members. Kingsbridge already has a significant market share of this sector, and its bespoke arrangements with insurance companies enable the provision of exclusive insurance products.
The DRF standards require members to have Professional Indemnity cover in place, ensuring adequate protection against potential claims for professional negligence. DRF is also portraying a professional image of all its members, and demonstrating adequate and appropriate insurance would enhance your reputations and brands. In addition, Kingsbridge has developed a unique approach to the insuring of bonds, making this product a market leader.
Whether you are an individual insolvency practitioner or a large provider, please call Danny Nield at Kingsbridge on 0151 224 0657 for advice and to discuss all your requirements. They guarantee competitive rates, appropriate cover and exceptional client service. Danny may also contact you direct in the future.
Some members have asked for advice on the Cookie legislation which became mandatory 26 May 2012
In line with recent changes in European legislation, UK law now requires website operators to ask for a website user’s permission when placing certain kinds of cookie on their devices for the first time. Where consent is required, the law states that it should be “informed consent”. This increases the onus on websites to ensure that visitors understand what cookies are and why website operators and others want to use them.
International chamber of commerce have produced a guide which you can download here.
See also the ICO publication by clicking here.
DRF Annual Conference
Reminder – the annual conference is to be held on the 1st November 2012 at the Renaissance Hotel, Blackfriars Street, Manchester. Book your tickets now, via our website by clicking here.
Debt Resolution Forum Chairman