WELCOME CCR
FEATURED CCR EDITORIAL BOARD MEMBERS
Commercial Credit Geoffrey Mullen Group credit manager, The Saville Group Ian Stockbridge Commercial director – credit operations, Opus Energy Katherine Bailey Credit manager, Valor Hospitality Europe Richard Holmes Head of accounts receivables, Royal Caribbean Cruise Line
Consumer Credit Ray Hugill Director, Cobbetts LLP Tim Woods Director of customer contact, Santander Catherine Parton Business process manager, Bank of Scotland
Collections Nick Cherry Managing Director Phillips & Cohen Associates (UK) Joanne Lazzari Residential credit operations manager, E.ON UK Rhys Berry Collections strategy, policy, technology, outsourcing & conduct, Santander Richard Houlbrook Head of debt recovery, Legal Aid Agency
Risk Ray Scott Head of customer & conduct centre of excellence – credit risk, Royal Bank of Scotland Rachael Cornfield Risk manager, Capital One Bank Europe Hugh Fitzpatrick Chief risk officer, GE Commercial Finance Alistair Lees Director, Credit Compliance Forum
CCR is proud to work with the credit industry’s associations
Stephen Kiely, Editor EDITOR’S LETTER
Welcome to July’s edition of CCR. Proposed rules from the European Union (EU) regarding data protection have
long been a point of some concern for many in the industry. When the European representatives were considering far-reaching proposals, such as a ‘right to be forgotten’, it was inevitable tensions would start to rise. Successful lobbying may have at least made clear what the impact of such new
rules were likely to be, but the new text of the General Data Protection Regulation (GDPR) is still a matter of widespread interest. Last month the EU took a major step towards such a GDPR as ministers agreed:
t A single set of rules on data protection will be established, valid across the EU. t The ‘right to be forgotten’ and the right to data portability will be maintained with the aim of “putting people back in control of their data”. t The same rules will apply to companies from the EU and from outside the EU. t A ‘one-stop-shop’ mechanism will aim to simplify the lives of companies that will have to deal with only one supervisory authority. At the same time, citizens will be able to turn to the data protection authority closest to them. This is considered to be a huge step forward compared to today’s fragmentation. Commissioner Vera Jourová was in buoyant mood: “Today is a good day for data
protection in Europe. The agreement reached by ministers is a very important step forward. It brings us closer to our common goal of finalising the data protection reform in 2015. The data protection reform is a key building block of the Digital Single Market and it brings benefits to citizens and business. “It will ensure a high level of protection for citizens. It will equip them to exercise
their fundamental rights in the digital world. This will increase their trust in the digital economy. It will also be good for businesses and innovation. It will provide businesses with modern common rules that apply to all providing services in the EU.” She insisted that she was confident that they would now be able to deliver the
new data protection rules to the EU by the end of this year. But doubts still remain. Allie Renison, head of Europe and trade policy at the
Institute of Directors said: “These proposals threaten to severely undermine businesses’ scope to innovate and create new and exciting products and services. This would hit not only businesses operating in the UK’s world-leading digital and creative industries, but consumers, who benefit from cutting-edge online services and economies across Europe. The new legislation needs to maintain an appropriate balance between legitimate protection for individuals and policies which are proportionate and reasonable for business to implement. That balance appears not to have been found.” It seems like the lobbying effort has some way to go yet! Before I go, I wanted to welcome our first keynote speakers to this year’s
CCR-interactive. Professor Jagjit Chadha, Mercers’ School memorial professor of commerce at Gresham College, London and professor of economics, chair in banking and finance at the University of Kent, and Debbie Abrahams MP, chair of the Cross- Party Parliamentary Enquiry Into Late Payment, are both hugely respected and influential speakers so, if you have not done so already, I would encourage you to contact Alison at
alison@ccrmagazine.co.uk to book your place to attend. Enjoy the magazine!
July 2015
www.CCRMagazine.co.uk
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