Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Credit reference agency criticises safety laws.

Document Cited in Related
Vincent
PositionFirst in ... All the latest news affecting accountants in business, including regulations updates

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.

[ILLUSTRATION OMITTED]

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...

To continue reading

Request your trial
COPYRIGHT TV Trade Media, Inc.
COPYRIGHT GALE, Cengage Learning. All rights reserved.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT