Proposed FCA guidance for Insolvency Practitioners: How to approach FCA-regulated firms

Other articles (Insolvency Practitioner, February 2021):

• Michelle Thorp, CEO
• Kevin Hellard, President
• Important reminder: Extraordinary General Meeting
• IPA Annual Conference
• New Joint Insolvency Committee role for the IPA 
• Renewals
• ICO Data Sharing Code
• A reminder for members who deal with IVAs
• Changes to IPA membership criteria
• Business continuity and support
• Debt Relief Orders consultation
• Insolvency Service guidance on monitoring Insolvency Practitioners: advertisements, marketing and debt advice  
• Vacancy for a Disciplinary Chair of the Disciplinary and Appeals Committee
• Vacancy for a Head of External Affairs and Business Development
• Update: HMRC Enforcement and Insolvency Services phone lines
• IPA rules review

As we informed members last month, the Financial Conduct Authority (FCA) has recently consulted on the planned guidance that it has published in respect of how Insolvency Practitioners approach insolvencies of FCA-regulated firms.

The FCA is seeking to inform its guidance, which is designed to help Insolvency Practitioners ensure that FCA-regulated firms meet their ongoing regulatory obligations after an Insolvency Practitioner is appointed. We have had feedback that some of the proposals may be impractical and would like to understand member perspectives a little further.

The proposed guidance can be accessed here. Though the consultation period is now closed, if any member would like to provide feedback on the proposed guidance for the IPA to raise, please email membership@ipa.uk.com.