Compliance and Discipline Panel Meeting – 6 October 2011

The Compliance and Discipline Panel met on 6 October 2011, under the Chairmanship of Sir Harry Ognall, to consider complaints regarding misleading statements, as set out in the notice below.

1. A written undertaking to be given by Member X not to advertise, market or otherwise promote whether by bidding on line or in any other media form words that may be misleading to a consumer by conveying that Member X is a free-to-client organization. In particular and without derogation from any of the foregoing, not to use any of the following words or phrases:
   • Citizens Advice
   • Citizens Debt Advice
   • CCCS
   • Government Debt Help

   or any combination of the above.

2. A warning that any further violation of the DEMSA Code of Conduct in these respects will place the company at serious risk either of suspension or of expulsion from DEMSA.
3. A fine in the sum of £15,000 (Fifteen thousand pounds)
4. A direction that the effect of the decision and the sanctions imposed be reported to the OFT
5. An order that Member X pay the costs of the Panel hearing, not exceeding the sum of £5,000.

DEMSA membership update

DEMSA is pleased to welcome two new members, Hamilton Locke and the first member specialising in IVA’s, Freeman Jones.

DEMSA is also pleased to announce that several debt management/IVA companies have applied to join, and are currently going through the various stages of audit and compliance.