The new alliance will encompass set standards for members and work in close partnership with lenders and regulators to match and exceed current and future compliance requirements. The new alliance is considered necessary due to the current lending climate and the demands of the changed market going forward.
John Rice said “I have been working with others on the concept of a new larger Alliance appropriate to the market circumstances we find ourselves in and have been in discussions with leading members of both the lending and packaging communities. The lender community, both existing and new lenders who will enter when conditions allow, will require controlled quality distribution, free of fraud and misrepresentation with packagers taking more responsibility in delivering volume in a manageable fashion for lenders. Equally packagers need to be able to expect not only keen products and pricing but also a more robust mechanism for product launches and withdrawals. Importantly any new Alliance needs to fully embrace all aspects of regulation and work in genuine partnership with lenders, regulators and intermediaries.”
It is envisaged that the membership of the new Alliance will include packagers outside of the existing alliances with financial and professional integrity being as important as size.
