Tag

Early this month, BA issued an apologetic warning that their booking website had been hacked. Describing the incident as a “sophisticated, malicious criminal attack”, they admitted that customers’ credit card details had been stolen — including the CVV codes, suggesting an interception rather than harvesting data. BA is just the latest in a long list of major organisations that have suffered recent

In order to obtain an order from the court that a director is personally liable for wrongful trading under section 214 of the Insolvency Act 1986 (the ‘Act’) the Liquidator or Administrator have to not only prove the elements of wrongful trading, but they must demonstrate how the wrongful trading caused an increase in the company’s net deficiency. That is its losses. That is the company should objectively have been p

It’s an unfortunate reality, especially in difficult times that any SME could find itself insolvent. This isn’t necessarily the end of the world. Properly managed, a business can survive insolvency or, at worst, the owner can walk away sadder and wiser. Improperly managed, though, you could find yourself in serious trouble. Insolvency A company is insolvent when either it can’t afford to pay its bills by their due da

The news has been full this week with story about the tougher new rules for people applying to take out a mortgage. There’s been some consternation at the idea that lenders might want to know how much people spend on toiletries or gym membership. These are, it seems to be emerging in the comments from banks and building societies about how the Mortgage Market Review rules will work, extreme examples of a concer

Businesses spend much time and energy marketing their services to clients that it may seem odd for a manager or owner to even consider turning work down. Yet there are times when you should say no to a client. In the collections industry, particularly in light of the regulatory role being taken in April by the Financial Conduct Authority, record keeping is sure to become ever more important. So the first doubts when

Regime change is a phrase that has come to be associated with the attempts to topple dictatorships in the world’s troublespots. But it’s also applicable to big changes in regulation of the UK financial services industry. Many people will have heard that the Financial Conduct Authority has replaced the Financial Services Authority as part of the reforms introduced after the banking collapse that brought on the recessi

The debt collection industry is embracing change in a way that may be surprising to outsiders. You might imagine that old hands are being dragged, kicking and screaming, towards regulation by the new Financial Conduct Authority from next year. And it’s fair to say, as consultant Rob Levick of UKDCA argued recently in CCR Magazine, that the arrival of the FCA ‘is forcing a re-examination of what is, and is not, accept