Apologies
were received from Jim Curtois, Alyson Williams, Gareth Limb, & David
Watchorn.
Eddie
Doherty made the following introductions: Zoë Drew as Payments Manager, Helen
Boland as Customer Services Manager, Tim Foley from Smith & Williamson and
Nicky Prue representing The Law Society.
1.
Matters Arising From The Previous Meeting
a)
IP Banking Website
Eddie advised the meeting it is currently in
draft format and will be carried forward to the next meeting.
b)
Online Access
Alison
advised that all notified problems have been sorted but if anybody still had any
outstanding issues if they contact us we will investigate them.
c)
Cheque Despatch
Ron
advised that new procedures are now in place to ensure that where applicable
cheques are now despatched in boxes or gusseted envelopes.
Tim Foley queried that cheques have in the post not been sent out to the
address on the requisition; Ron advised that the policy is to always issue the
cheque to that quoted on the requisition but accepted that some may slip though
due to the large volume of cheques produced.
2.
Reorganisation of Banking Directorate
Eddie
explained that there had been some staff changes in IP Banking with Zoë Drew
covering Payments and Helen Boland replacing Kate Werrett as Customer Services
Manager.
3.
Performance
Ron
discussed performance and again volumes have increased but all key targets are
still being maintained. Michael O’Donnell commented that balance statements
issued and telephone calls received issued are down, which reflects the usage
and assistance to IPs of online access.
4.
Security
Ron
circulated a copy of the latest attempted cheque fraud that was achieved by
forging the signature of The Inspector General.
Sheila Bowles asked about the policy of amending the payee name on
cheques, Eddie explained that this was currently done to ensure that the cheque
is returned to the payee as soon as possible and that to cancel cheques if the
amendment is to correct an inputting error will result in time delay on the
cheque being issued to the IP.
Action:
Eddie & Ron to review procedures.
5. Laser
Printed Cheques
Copies
of the new laser cheques for IP Banking were circulated and a good response was
received. Eddie explained that the
new cheques offered a greater security and that the new printers were able to
produce 64 cheques a minute against the current printer that produces 8 per
minute.
Ron
explained that under the CAMEO system it is hoped that the counterfoil can be
adapted to show details for dividends payments.
Eddie asked for samples of information that IPs currently send out with
dividend cheques.
Action:
Chris Collins to forward sample documentation.
6.
Enterprise Act – New Financial Regime
Eddie
advised that the first part of the act came into force on the 15th
September 2003, which gives the Secretary of State powers to amend to the
current fees order.
Eddie
was able to inform the meeting that the new financial regime comes into effect
on 1st April 2004.
Sheila
asked as to how soon the final figures will be made available as their internal
systems and those of Turnkey will also need updating, Eddie advised that the
lawyers and HQ London are currently working on a fees structure and that as soon
as definite amounts and percentage rates have been agreed it will be issued via
a Dear IP notice but he will ensure that HQ London are aware of the urgency.
Action:
Eddie to arrange for final figures to be issued as soon as available.
7.
CAMEO
Eddie advised that
development work is still ongoing and that the target date is October 2004.
8.
Data Cleansing
An exercise is underway to
confirm cases with static balances. Letters
were issued to all insolvency practitioners in August and some responses have
been received back. Eddie pointed
out that although the letter stated that cases would be closed if no response
were received that was not the plan at the present time.
Any
Other Business
Alison
advised the meeting that the crediting of interest will be run on the evening of
3rd October 2003 and will credit interest effective on 1st
October.
The
on-line website is now updated at 4.30am & 1 pm so at the latest the data is
4 hours old.
The
date of the next meeting has been scheduled for 22nd April 2004 at
11.00am
