Financial sanctions guidance

IPA Insolvency Practitioner newsletter, August 2023

Contents

• Paul Smith, CEO
• Paul Davis, President
• Director Loan Accounts written-off as part of corporate insolvencies
• Supreme Court ruling means many Litigation Funding Agreements are unenforceable
• The importance of consumer protection in insolvency: Understanding Section 75 of the Consumer Credit Act
• Safeguarding your insolvency practice against cyberattack and ransomware threats: Lessons from the Wannacry attack
• HMRC updates
• Just a week to go to the Scotland Roadshow! (CPD: 4h)
• Spotlight on Anti-Money Laundering and Fraud (CPD: 5h)
• IPA Learning | Pension Claims in Insolvency – Are You Getting it Right? (CPD: 2h)
• New speakers announced for the 15th Personal Insolvency Conference (CPD: 6h)
• Do you know someone in the profession who deserves recognition this year?
• Discounted meeting facilities from Office Space in Town (member login required to view)
• Save money on your airport parking with APH! (Member login required to view)
• Need new IT products? Claim exclusive IPA membership offers from Dell
• CPI training with BPP – special offer for IPA members (member login required to view)
• Make savings on essential CPD with exclusive discounts on training from the IPA and our partners
• An opportunity for Registered Property Receivers!
• Committee Chair vacancy
• Case law update
• Clearway: Protecting people, property and assets
• IPA exclusive industry update from Insolvency Insider

Members will have seen previous articles and information regarding sanctions, especially post the Russian invasion of Ukraine and the increase in sanctioned entities in Russia and Belarus. There are a number of guidance documents from the Office of Financial Sanctions Implementation (OFSI) that may assist members with a better understanding of the sanctions regime and how to deal with any matter that may arise in appointments.

The guidance can be obtained here.

There are regular updates to the sanctions list and the guidance, and members may want to consider joining the OFSI mailing list to keep as up-to-date as possible on the sanctions information.