Insolvency Service and OFSI updates
IPA Insolvency Practitioner newsletter, June 2025
Insolvency Service
The introduction of our new case management system, INSSight, has been rescheduled.
What this means for you
- There will be no disruption to our services because of a rollout in May/early June.
- You do not need to start using our new file templates until further notice.
Next steps
We will follow up to confirm the new rollout date, and to remind you of how it may affect you.
We appreciate that you may have been preparing for the go-live and apologise for any disruption this delay will cause. If you have any questions or comments, please send them to CustomerServices.EAS@insolvency.gov.uk
OFSI
Following a cross-government review and an ask from users for clearer, better structured sanctions content, the following has been introduced:
- A new sanctions hub page on GOV.UK that signposts essential UK sanctions content
- an expanded collection of industry guidance for the Russia sanctions regime
- an improved regimes guidance collection page
Results from multiple jurisdictions can make it difficult to search for sanctions content. To help, a pre-filtered sanction search of GOV.UK has been created which you can access from the hub page. This lets you find all UK sanctions content by keyword, date and content type.
Further improvements to UK sanctions content are underway. You can read more about these in the cross-government review of sanctions implementation and enforcement.
Find support and contact information here: UK sanctions – GOV.UK
OFSI General Licence INT/2023/3263556, GTLK Companies and their Subsidiaries – Insolvency related payments and activities amended
On 12 June 2025, the General Licence INT/2023/3263556 was amended to:
- Add regulation 18A to the regulations that are exempt under the General Licence;
- Add definitions for Notes, Noteholders, Trustee, Relevant non-UK Institution, UK Prohibited Persons and UK Prohibited Persons Account;
- Make it clear in Permission 4.2 that any funds made available to DPs must be held in a frozen account and any economic resources made available must be treated as frozen;
- Add Permission 4.3 which states that financial services for foreign exchange reserve and asset management must not be provided to a UK Prohibited Person unless any resulting payments are credited to a UK Prohibited Person’s Account;
- Make corresponding clarificatory changes to Permission 5, the notification requirement and the record-keeping requirement; and
- Add a new reporting requirement
Any persons intending to use General Licence INT/2023/3263556 should consult the copy of the Licence for full details of the permissions and usage requirements. To view the General Licence click here.
OFSI guidance videos
OFSI has released a series of videos that provide simple guidance on sanctions obligations and the work of OFSI. It will assist IPs in their responsibilities in reporting sanctions issues effectively. Read more