Harrington Brooks ended its membership of DEMSA, the trade body for commercial debt management providers, in December. Susan Yates, who was Harrington Brooks’ representative on the DEMSA board, had stepped down from the trade association board last July.
Any references to DEMSA such as logos and endorsements including the Approved Code are being removed from Harrington Brooks’ consumer facing literature and websites.
Organisations within the commercial debt management sector have been undergoing a lengthy authorisation process from the Financial Conduct Authority (FCA) after the FCA took over responsibility from the Office of Fair Trading (OFT) in 2014.
“During the past six months we have been reviewing our membership of the trade body DEMSA. We remain committed to gaining understanding and to influencing how the FCA and other regulators react to our industry and to ensuring that we are gaining valuable insight into future developments in the regulatory landscape.
As a result of this we have decided to resign our membership to DEMSA and will be exploring alternatives including other trade associations and partner links”.
We also work within a significant compliance and quality regime which is both internally and externally audited and therefore the benefit of DEMSA’s quality standards were not adding any additional value to our business.
As a result of this we have decided to resign our membership to DEMSA and will be exploring alternatives including other trade associations and partner links.”
Susan Yates, Director of Operations
Customers please note that the following logos will cease to feature: