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Gnashers and Grinders of teeth [Credit Management (UK)](Credit Management (UK) Via Acquire Media NewsEdge) NEW research from Hays Accountancy & Finance confirms what we already knew: that credit management will continue to be a key focus for businesses while the UK economy recovers. Yes we knew it, but it's still nice to hear it from the likes of Hays that has its finger on the pulse of recruitment trends within the credit management profession. It is also good to hear that demand for the best-in-class credit managers is such that salaries are increasing: it is perhaps not so good to hear that a shortage of candidates with specific experience will continue throughout 2014. This message comes in an extremely busy month of news within both the consumer and the commercial credit sectors, with the Financial Conduct Authority (FCA) and the Office of Fair Trading being especially active, and competing to be the most butch. The FCA finally published its long-awaited 'rule book' to govern the £200 billiona-year consumer credit market. There were few if any surprises, primarily because the conversation has been played out relentlessly over the last 12 months and so there was little else to say that hadn't already been said. Martin Wheatley, the FCA's Chief Executive, bared his teeth a little by reminding consumer credit license holders that there would be 'swift penalties' for any firm or individual found not to be putting consumers' interests first. Grrr. Not to be outdone, the OFT decided to have another poke at the banking sector, accusing them of still not doing enough to help small and medium sized enterprises gain access to funding. Actually it went a little further, suggesting that some banks were deliberately holding on to documentation and data to prevent businesses from seeking help elsewhere, primarily from the invoice finance sector. Vivienne Drews, the OFT's Chief Executive, said that 'action will follow' if concerns are not addressed. Double Grrr. But my particular favourite this month, which unfortunately came in a little late but is still worth reporting, is that the proposed regulation on EU Data Protection has taken a step closer to reality. It was passed in a plenary vote, 621 for, 10 against with 22 abstentions. But don't worry. Everything I said last month, and that was reported in the Daily Express and articulated by much bigger brains than me in the legal and political worlds is apparently wrong, according to MEP Roger Helmer. Why we're all wrong I don't yet know, but I have offered an open invitation to Mr Helmer on Twitter to put us all right, and very much look forward to hearing from him. Grrr. 75 Years ago today Guernica, a Basque Country village in northern Spain, was bombed by German and Italian warplanes at the behest of the Spanish National forces during the Civil War. The event is made famous by Picasso's painting on display at the Museo Reina Sofia gallery in Madrid. Everything I said last month, and that was reported in the Daily Express and articulated by much bigger brains than me in the legal and political worlds is apparently wrong, according to MEP Roger Helmer (c) 2014 Institute of Credit Management Ltd. |