IVA Provider Regulation Workshops
Delivered in partnership with ISS Training, this series of online training events is ideal for those operating in the consumer debt solution market or who want to understand more about how it is regulated and the expectations of the industry’s principal regulator.
With input from the IPA’s Chief Inspector and members of the inspection team, we will examine the concept of public interest regulation and how this should be translated in practice by IPs in their dealings with customers (and potential customers), to ensure that they are treated fairly.
IVAs continue to be the debt solution of choice for the over-indebted individual. As the economy is hit hard by the global pandemic, there is an expectation that the numbers of people seeking assistance from insolvency practitioners will climb. The IPA regulates 70% of the UK IVA market and is leading the way in the development of the regulatory landscape.
In partnership with:
- What is meant by “the public interest”?
- Regulatory objectives / direct sanctioning powers
- Outline of Insolvency Service findings
- Importance of perception
- Media view
- Inclusion within revised Ethics Code
- Addition of “public interest” to the Code
- Important changes for IVA providers
- Increased emphasis on documentation
- Employee IP provisions
- NOCLAR reporting
- Interaction with FCA requirements re: advertising
- Complaints system at the IPA
- Nature of complaints and themes
Interpretation of requirements into working practices:
- Meetings / fee explanations / I&E accuracy / treatment of equity in property.
- Planned further revision
- Discussing options and alternatives
- Documenting consideration
- The debtor’s “preferred option” – consideration of personal choice and the need for that choice to be fully informed.
- Making debtor-appropriate adjustments
- Protocol / FCA requirements
- COVID-19 driven amendments to protocol
- Staff awareness and well being
- Incorporating vulnerability awareness into working practices
NB: Existing VPR Scheme members should email [email protected] for specially discounted closed sessions, and not book using this form.