Viacom Inc. (Nasdaq: VIAB, VIA) and Northern & Shell Media Group yesterday announced a definitive agreement for the acquisition of Channel 5 Broadcasting Limited by Viacom International Media Networks (VIMN) for £450 million (approximately $757 million).

The transaction brings Viacom one of British television’s biggest brands, and the only commercial public service broadcaster to consistently grow viewership share in recent years. Channel 5’s diverse programming slate is viewed by more than 80% of the UK population each month, benefits from the programming grid prominence associated with its public service broadcaster status, and will complement Viacom’s popular pay TV networks, which connect with focused and valuable audiences.

http://ir.viacom.com/releasedetail.cfm?ReleaseID=844406

PhonepayPlus has published a discussion paper on affiliate marketing. This discussion paper intends to help PhonepayPlus and the industry support each other to ensure consumers are protected and compliant members of industry can operate with confidence. The paper sets out PhonepayPlus’ current approach to regulation, discusses what good practice may look like, suggests further sources of information and details actions they are taking with industry to help ensure affiliate marketing can be used compliantly.

Whilst this is not a formal consultation from the Regulator, PhonepayPlus are welcoming responses from in and outside the industry to the discussion document.

AIME will be reviewing and responding to the document after internal discussion with members involved in the Digital Marketing Working Group.

To view the full discussion paper please click here.

AIME Board and Executive were taken by surprise with the PhonepayPlus news this morning that Paul Whiteing, the CEO of five years and the Director of Strategy prior to that, is to stand down in May this year to take up a lead role in the Financial Ombudsman Service.

AIME worked with Paul and his team extensively over the years, including deep involvement with the development of the regulatory 12^th Code of Practice and its subsequent implementation. We found his pragmatism and reasoning to be strong and he was always ready to listen to industry participants, Board Members and the AIME Executive.

We are sorry to see him moving on and hope that we are able to establish an equally  strong working relationship with his successor. We will continue to engage positively with PhonepayPlus during the transition time and provide our full co-operation to Jo Prowse while she stands in as Acting CEO.

AIME Chairman Edward Boddington said: “Paul had a very tough role bringing PhonepayPlus into the modern world of the digital services explosion, transitioning to a principles based code and developing a culture where industry innovation could occur while ensuring consumer protection is top priority. I have worked with him for many years and I congratulate him on his new role in the financial services industry where he can carry over his extensive experience of the PRS industry.”

 

 

Following a successful pilot period, PhonepayPlus has set out its plan to make regular text donation to charities easier. Following consultation with Industry, PhonepayPlus has announced a Statement of Application applying to registered UK charities providing fundraising via a premium rate text shortcode on an on-going subscription basis.

For charities operating subscription-based premium rate SMS donations, this Statement:

– Permanently dis-applies rule 2.3.12(d)(v) of the PhonepayPlus Code of Practice (twelfth edition);

– Allows the use of SKIP facility so that subscribers can text SKIP to miss a given month’s subscription payment without opting out of the on-going donation entirely;

– Provides an exemption from the requirement to seek permission where donations exceed £4.50 in any given 7-day period.

UK registered charities and intermediaries working with them that operate or wish to operate premium rate subscription SMS donations should read the conditions set out within in the Statement.

You can view the full document relating to the changes here.

On 1 April, the Financial Conduct Authority takes over regulation of consumer credit from the OFT. If you have an OFT licence then the FCA will have written to you to tell you to register with them before 31 March. If you want to carry on offering credit to your customers and haven’t registered with the FCA for ‘interim permission’ you may be acting illegally.

What’s happening?

The Financial Conduct Authority (FCA) takes over regulation of consumer credit from the OFT from 1 April, this year.

Which firms need to take action?

All firms with an OFT licence must contact the FCA to register for ‘interim permission’. This allows firms to continue providing credit to customers. If your business sells goods or services on credit, you almost certainly need to be licensed by the OFT.

What do firms need to do?

Consumer credit – three step plan for firms with up-to-date OFT licences
Register for interim permission – click here www.fca.org.uk/clicked
Pay the online fee – £350 for most firms and £150 for sole traders
Wait until the FCA contacts you to apply for full authorisation.
The FCA will be publishing its final rules on how it intends to regulate consumer credit before April. You can sign up for emails to get the latest news from the regulator here.

What happens if you don’t do anything?

If you have an OFT licence and don’t register with the FCA by 31 March 2014, you cannot legally continue with consumer credit related activities in April.

If you haven’t got an OFT licence but think you should have one.
You should apply to the OFT. After 1 April, you will have to register with the FCA.

What are the consequences of providing credit without an OFT licence or authorisation from the FCA in the future?

This is likely to be a criminal offence and it may mean that agreements you make are unenforceable.

What about if you introduce customers to lenders?

This is one of the areas that is likely to change when the FCA takes over. If you introduce individual customers to businesses that are lenders – credit brokering – you will have to be authorised by the FCA in the future.