DRF announces new measures for members
Originally posted by 5corpio

The Debt Resolution Forum (DRF) has announced new measures for its members to undertake to improve standards in the debt management sector, following a consultation launched by the Office of Fair Trading (OFT).

The trade body has brought in a new membership category for lead introducers, which invites them to volunteer for annual monitoring by the Insolvency Practitioners Association (IPA) at their own cost, so that DRF members can ensure they have a bank of trusted lead introducers they can use.

The DRF is also planning to enhance its Cert DR industry qualification by introducing annual training, known as a continuing professional development scheme, which Cert DR holders must complete to a minimum standard to maintain their certificate.

Also being considered is the addition of an assessed module to the Cert DR qualification to make it a full Diploma.

The measures follow the recent launch of an OFT consultation on updated debt management guidance, which began after a compliance review found widespread issues of non-compliance with regulatory requirements in the debt management industry, particularly the fee-charging sector.

In an open letter published today in response to the consultation David Mond, chairman of the DRF, said: "We know that the OFT is going to be holding debt solutions providers responsible for...Read more on this story: Credit Today online