Credit Management January February 2022

2021 with 41 and 48 respectively,
compared to 2018 where there were 32
liquidations.
However, prompt payments have
slightly improved in the UK from 32
percent in August 2018 to 38.5 percent
in August 2021. Additional insight
across Europe also demonstrated
positively for credit risk metrics
within the sector, with data showing
that the average payment delays in
days dropped from 14.4 days in the
first quarter to 14.1 days in the second
quarter of the year.
A bright future ahead?
There are no doubt uncertain times
ahead for the sector, but its recent
growth shows the potential for the
industry to weather this moment in
time.
As the UK’s post-Covid economy
continues to recover, there will be
rising calls to tackle the problem of
unaffordable energy before it causes
further damage. So, while we may not
run out of gas, the potential to run out
GOVERNMENT proposals on how
insolvency services should be regulated
in the future have been welcomed by
Colin Haig, President of insolvency and
restructuring trade body R3.
He says the consultation provides
an opportunity to deliver a framework
that is strong and effective, that is fit
for purpose in the longer term, and
is better able to carry the confidence
of the wider public: “A successful
regulatory framework needs to be fair
and proportionate, transparent, effective
at addressing shortcomings, efficient in
reaching decisions, flexible enough to
keep pace with innovation, and, above
all, consistent,” he says.
“But there are still some significant
issues with the proposals as they stand
that will need to be worked through
before any changes can be introduced.
While improvements can and should
be made, there appears to be a lack of
evidence around some of the claims
NEWS ROUNDUP
There’s a lot of scope for the UK to utilise green
energy, but the fact is around half of the UK’s
electricity is generated by burning fossil fuel in
gas-fired power plants.
of affordable energy is a mounting
concern – not just for those working
in the sector, but for the general public
who will inevitably foot the bill.
Many will look to monitor changes
in the business environment of the
energy sector as well as the responses
at an individual country level as
the crisis continues. Forecasts will
undoubtedly play a starring role in
supporting the industry’s anticipated
recovery. And we can also expect a
thorough, ongoing investigation for
years to come – to ensure we prevent a
reoccurrence.
Tim Vine is Head of Credit
Intelligence at Dun & Bradstreet
Future insolvency regulation
still has issues, warns R3
the Government has made around the
current efficacy of the framework.”
Crucially, Colin says, the Government’s
preferred option of a single regulator
operating within the Insolvency Service
raises a major conflict of interest issue:
“We’ve always been clear that we don’t
oppose a single regulator in principle, but
under these proposals, the Government
would set insolvency legislation,
regulate insolvency practitioners and
then effectively compete with those
same insolvency practitioners for work
— while not being subject to the same
regulation itself.
“We hope the Government will set out
in more detail how it would ensure the
genuine independence of this proposed
single regulator, as well as a level playing
field for the public and private sector
parts of the insolvency profession.”
See article by David Kerr FCICM on p12.
>NEWS
IN BRIEF
Do you want to be a
CICM Assessor?
THE Chartered Institute of Credit
Management is looking for Assessors
to mark CICM assignments four times
a year. If you are qualified in Credit
Management, Money & Debt Advice
or similar, and are looking to give
back to the profession, we would
like to speak to you about joining
us. Training will be provided. If you
would like more information and to
apply, visit the CICM vacancies page.
Membership fees
reviewed to invest in
future services
THE CICM has increased the cost of
membership for the first time since
2018. The new pricing structure, which
was effective as of 1 January 2022,
reflects the significant investment
the Institute has made in new
digital platforms and training and
membership packages needed to better
serve its members’ needs. The new
pricing is as follows:
Fellow (FCICM) - £21.42 a month
Member (MCICM) - £17.25 a month
Associate (ACICM) - £14.08 a month
Affiliate - £12.67 a month
Studying Member - £8.25 a month
In writing to members last month,
Sue Chapple FCICM, CICM CEO says
they did not take the decision lightly:
“I hope you will appreciate that they are
necessary to ensure your professional
Institute retains its stature as the
leading professional body of its kind
in the world, and one to which you are
proud to belong.”
New Head of Audit
SHELAGH Doyle has been promoted
to Head of Audit and Compliance for
Court Enforcement Services. Shelagh
joined the business in 2020 to drive
its customer care function with a
wide and varied remit. In her new role
she will fully support existing audit
and compliance initiatives whilst
adding her own ideas to drive a fresh
approach for sustainable improvement.
In a career spanning more than 20
years, Shelagh has worked with
organisations including
Lloyds Banking Group,
Barclaycard, Co-op Bank,
VWFS and the Financial
Ombudsman Service.
Brave | Curious | Resilient / www.cicm.com / January & February 2022 / PAGE 7