According to an article in today’s Sunday Telegraph Kate Sharp the chief executive of the Asset Based Finance Association (ABFA) has claimed that they intend to bring in a new code of conduct in January whilst indicating that the association still haven’t a clue what is going on under it’s nose by it’s members by questioning the extent of the problem that everyone seems to know about except the ABFA

Unfortunately the new code of conduct will be heavily watered down from what many people wish to see as they will not be outlawing the sharing of termination fees with brokers claiming laughably that it’s “against competition law”.

I suspect that the real reason could be found under the list of affiliate members / sponsors of the ABFA on their site who comprise many of the brokers who’s noses are firmly in the factoring trough and are quite happy with the status quo