Credit reference agency criticises safety laws.
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New EU regulations on health and the environment could combine with UK legislation to erode the quality and quantity of information available to firms seeking customer credit scores based on information filed at Companies House, according to credit reference agency Graydon UK.
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The EU registration, evaluation, authorisation and restriction of chemicals regulations (Reach) are designed to provide safety information on the substances used in manufacturing processes. The legislation is being phased in over 11 years and aims to test about 30,000 compounds that haven't previously been subjected to such controls.
Graydon warns that the law is likely to lead to an increase in the number of directors applying to Companies House for confidentiality orders, which would prevent credit reference agencies from finding out their home addresses--an important part of the scoring process. Confidentiality orders are most likely to be sought by directors who believe that they are at risk from violence--for example, those of firms involved in...
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