ema/ucab - introduction to code of conduct
TRANSCRIPT
Richard Felgate – Managing Director, EnStrat (UK) Paul Boreham – Independent Energy Consultant Lord Redesdale – Chief Executive, EMA
• Outline of best practice compliance • Purpose: protect interests of consumers by
preventing mis-selling => assure transparency • UCAB Code of Conduct draft – adapted from the Ofgem’s draft of the Code of Practice for Non-domestic Third Party Intermediaries (in your packs)
To be compliant with the Code Water Retailers must undertake: • Training of Compliance Officers and Sales Staff • Transparency in selling, marketing and advertising • Transparency in commissions and fees • Standardised Complaints procedure • One annual audit or audits at set intervals
Based on: • Transparency of profit margins • Any hidden charges will be seen as a breach of the
Code of Conduct Audits will be randomly chosen client companies and may be multiple.