DEMSA Summary: Vulnerability collaboration / SFS / The Insolvency Service / Ofgem / Cyber / Events

Summary – Read the full update here (including all the links & more)

This weeks DEMSA bulletin highlights a series of updates, ranging from a general overview to specific topics such as the SFS update, the decline in IVA volume, and a deep dive into diversity by Rooted Finance.

It also touches upon the collaboration on vulnerability, Ofgem’s energy prices, and the categorization of UK cyber incidents. Amidst these updates, there’s a notable emphasis on the recent announcements from Ofgem regarding the cap from October and the subsequent reactions from MAT and StepChange.

Key Points

  • General update provided in the bulletin.
  • SFS update discussed.
  • Notable decline in IVA volume.
  • Rooted Finance presents a deep dive into diversity.
  • Emphasis on vulnerability collaboration.
  • Ofgem’s energy prices highlighted by Johnny Timpson.
  • Categorization of UK cyber incidents.
  • Training events and duties mentioned.
  • Announcements from Ofgem regarding the cap from October.
  • Both MAT and StepChange have commented on Ofgem’s announcements.

Key Statistics

  • Decline in IVA volume.
  • Ofgem’s cap set for October.
  • Feedback from both MAT and StepChange on Ofgem’s decisions.

Key Take Aways

  • The importance of staying updated with industry changes and announcements.
  • The role of Ofgem in influencing energy prices and its impact on consumers.
  • The significance of collaboration when addressing vulnerability.
  • The need for a comprehensive understanding of cyber incidents in the UK.
  • The value of diversity in finance, as highlighted by Rooted Finance.
  • The continuous evolution and challenges in the risk operations strategy.
  • The importance of ensuring energy firms don’t exacerbate situations by seeking unaffordable debt repayments.
  • The need for controlled and understandable debt repayment structures.
  • The role of debt solution providers in ensuring clarity on debt repayments.
  • The relevance of training events in keeping professionals updated.
  • The significance of public feedback, as seen from MAT and StepChange’s comments.
  • The broader implications of global events, such as the ladies football World Cup, on industry updates.
See also  In The Know ¦ DEMSA Summary

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