Industry Newsletters

KEY THEMES+ ¦ DEMSA Summary

What you need to know this week Inflation in the UK has unexpectedly dropped, potentially leading to interest rate cuts. FCA has scheduled a horizon scan for 10am on 22/10/2024. The Insolvency Service has released a concerning report on early IVA failures. Personal insolvency statistics show a significant increase in England & Wales as of September 2024. MaPS has proposed strategies for improving the delivery of its debt advice. The regulation of BNPL products is advancing with government consultations and… Read more

DEMSA Column: IS report on IVA failures / Insolvency stats / MaPS debt advice report / Ombudsman News / Events

In today’s bulletin: General update FCA data requests and horizon scan into 2025 – 10am 22/10/2024 Insolvency Service review of early IVA failures Personal insolvency stats in England & Wales - September 2024 MaPS proposals for the delivery of its debt advice strategy Is customer experience getting worse? Blog by Garry Gormley Ombudsman News Events General update There has been a ‘surprise’ fall in inflation that may pave the way for more interest rate cuts. That is the BBC headline.… Read more

KEY THEMES+ ¦ DEMSA Summary

What you need to know this week The FCA Fair Value Assessment and Stage 2 Customer Support RFI deadlines are approaching on 18 October 2024 and 16 October 2024, respectively. FCA's recent feedback highlights the need for better customer support and fair value in payment services. Mortgage default rates have risen in the last quarter and are expected to rise again in the upcoming quarter. The Borrowers in Financial Difficulty (BiFD) rule changes will take effect on 4 November 2024.… Read more

DEMSA Column: FCA interventions / TSB redress / ICO framework / Consumer Duty / Economy / Events / Collaborations

In today’s bulletin: General update FCA action against TSB – lessons learned New ICO data protection audit framework BSI ISO 22458 update Collaborations Events General update We are coming up to the deadline for some on the FCA Fair Value Assessment response by 18 October 2024. We are able to provide support if not already requested. As covered in the bulletin last week, some regulated firms also have the Stage 2 Customer Support RFI deadline on 16 October 2024. It… Read more

KEY THEMES+ ¦ DEMSA Summary

What you need to know this week Government’s first budget scheduled for 30th October 2024, with discussions around funding gaps and potential cuts to the winter fuel allowance. GfK consumer sentiment index fell sharply in September 2024, reversing earlier signs of recovery. The Money Charity reported rising financial challenges, including mortgage arrears and increased consumer credit lending. Aryza has acquired NTI, a specialist insolvency and debt advice training provider. DEMSA has highlighted the need for collaboration between debt advice providers… Read more

DEMSA Column: FCA Fair Value Assessments for DMCs / IVA event / Collaborations / Training

In today’s bulletin: General update Vulnerability Training aligned to the Consumer Duty FCA Commercial Debt Management Price & Value Review – 3/10/2024 DEMSA at the Consumer Duty Services volume IVA provider event on 3/10/2024 Collaborations Events General update We countdown to the new government’s first Budget scheduled for 30th October 2024. Much attention has been focused on the PM’s contribution to the HM Treasury coffers in terms of returning gifts and hospitality that may be frowned upon in the future.… Read more