Demsa Summary

DEMSA Summary: IVA voting / DROs / FCA news / FOS / MaPS consultation / Collaborations / Events

Summary – Find the full update here (including all the links & more) This week’s bulletin outlines the importance of non-executive directors (NEDs) in enhancing financial resilience, the anticipated increase in cybersecurity expenditure, changes in DRO application fees, the dynamics of consumer credit borrowing, and the escalating issue of court actions against individuals for unpaid energy bills. It also touches on collaborative efforts and innovations within the sector, highlighting the industry’s ongoing adaptations to regulatory demands, technological advancements, and consumer… Read more

DEMSA Summary: IVA voting / MaPS updates / FCA regulatory round-up / Collaborations / Events

Summary – Find the full update here (including all the links & more) Summary This week’s bulletin the anticipations of economic recovery, the static nature of interest rates despite falling inflation, and the evolving regulatory landscape affecting Individual Voluntary Arrangements (IVAs), Debt Relief Orders (DROs), and creditor practices. It also sheds light on predictive analytics in financial distress, the significance of data-driven decision-making, and the importance of adapting to changing consumer credit behaviors. Key Points Rishi Sunak predicts a robust… Read more

DEMSA Summary: FCA on vulnerability / ICO / Scams / Insolvency stats / DRO update / Events / Collaborations / Debt Adviser Apprenticeship

Summary – Find the full update here (including all the links & more) Summary This weeks bulletin provides an overview of recent developments and insights within the financial sector, focusing on vulnerability management, government initiatives on debt fairness, personal insolvency statistics, and collaborative efforts across various stakeholders. Highlights include proactive steps being taken by regulatory bodies, charities, and industry groups to address financial difficulties, protect vulnerable consumers, and enhance the effectiveness of debt advice and relief strategies. Key Points Fair… Read more

DEMSA Summary: IVA statistics / DRO guidance / Enforcement consultation / Collaboration / Training /Events

Summary – Find the full update here (including all the links & more) Summary This weeks bulletin focuses on the immediate impact of the budget, notably the modifications to Debt Relief Orders (DROs) and child benefits, to broader discussions on industry collaborations, regulatory warnings, advancements in AI, and the financial habits of consumers. Key Points The budget introduced significant changes, including modifications to national insurance, child benefits, and other financial aids.Child benefits will now start to be withdrawn at a… Read more

DEMSA Summary: IVA statistics / DRO guidance / Enforcement consultation / Collaboration / Training /Events

Summary – Find the full update here (including all the links & more) Summary This weeks bulletin covers General industry updateDROs – guidance for debt advisersIVA statisticsGovernment retains data sharing powerCollaborations & featuresEventsTraining Key Points Net borrowing of consumer credit increased in January 2024, driven by higher borrowing through credit cards.The Financial Conduct Authority (FCA) is proposing a new approach to publicizing enforcement investigations.Efforts to reduce and prevent financial crime are ongoing, with a focus on collaboration, data sharing, and… Read more

DEMSA Summary: ‘Intelligibility’ event outputs / FCA survey results / Joint DMP training / Apprenticeship / Collaborations / Events

Summary – Find the full update here (including all the links & more) This weeks bulletin – an update on various initiatives, regulatory changes, and industry developments that occurred in February 2024, spanning topics such as financial conduct authority (FCA) updates, energy price caps, consumer duty, data protection, financial education, and collaborations within the financial sector. Insights from events like the ‘Intelligibility’ event on the 21st, updates on energy price caps, fair value assessments, data protection updates, and the importance… Read more