Week 30: Does time speed up when less happens?

Posted on October 11, 2020 by Chris Warburton

A new full lockdown really seemed to be impending this weekend… what with cases rising and regional restrictions already in place.

However it is also thanksgiving this weekend in Canada, a good reminder to be more thankful for what we have… so enough gloom… there is still plenty that is good in the grand scheme of things…

Observations for the week.

  • With the economy having started up again so it seems has rushing around… & I have discovered fast(er) food again… it is just so convenient… it has not been so great for the waistline mind you..!
  • Everything definitely does also feel more routine now… a new normal maybe… but time also seems to be passing faster… maybe it is because there is less change… not sure if that is good or not!
  • Workwise, the digital solution theme continues. New regulatory guidance also keeps popping up (a few areas last week)… flexibility and planning feels important now.

Have a good week everyone… @chris_w_tweet

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Regulatory changes coming through

Posted on October 9, 2020 by Chris Warburton

Some fairly significant news developments this last week, at least for the financial services industry.

First off there was the announcement that letters used for the collection of debt, now needed to be in clear English, signpost free debt advice, and not use capitals in the letters. The industry consensus, contrary to the impression from many news stories, was that this was a good thing and of course, there is also little to stop businesses from doing most of this today… indeed many do. However it will now be regulation for, so at a minimum will be another thing to monitor for compliance and control.

Next up, there was further concern on the performance of the BBLS scheme, with the release of a national audit office report. With around £40bn lent, with a priority on speed of distribution rather than control, fraud is expected to be an issue. Additionally, with weak onboarding and underwriting control, around 30%-75% are expected to default. Even at the lower range, this is a staggering number, and with the government picking up the tab the dynamics will be different… much more to hear on this I think.

Likewise I also some time reviewing the legislation for the new breathing space scheme this week too. There are some signficiant operational issues heading our way on this and many are working on this already… expect to hear a more on this soon too.

And… with COVID cases firmly on the rise again it looks like we will be nearly all in lockdown again… indeed some are already… economic clouds and uncertainty remain firmly on the horizon.

Other key stories this week

Have a good weekend everyone… @chris_w_tweet

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Week 29: Having things to look forward to…

Posted on October 4, 2020 by Chris Warburton

With a very wet and rainy weekend, it has started to feel as if autumn has really started to settle in. Observations for this week

  • I have been finding plucky rogue courgettes in the garden the last few weeks, but sadly they are no more… just like summer they are now being missed.
  • … and what with the gloomy weather too and a potential return to lockdown, it feels as if we need something to look forward to… apparently Christmas and holiday shopping has already started… no doubt I will still run out of time… but am going to have a good run at it this year.
  • Workwise, it was still busy and sometimes I am not quite sure where the time goes… when you get to the end of the day and find yourself closing the windows and pages you opened at the start of the day… it was one of those… hopefully next week calms down a little

… stay safe everyone… @chris_w_tweet

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