Insolvency Service guidance on monitoring Insolvency Practitioners: advertisements, marketing and debt advice

The Insolvency Service has recently published strengthened guidance for Recognised Professional Bodies (RPBs), such as the IPA, in their monitoring of Insolvency Practitioners’ employment of advertising and marketing, including the use of introducer firms.

Ensuring that Insolvency Practitioners take a responsible approach to customer journeys is an important part of the guidance, which has been issued amid concern on the activity of some introducers. Accordingly, practitioners are reminded to be mindful of the content of any advertising that leads to an appointment. Practitioners should review all advertising to ensure it meets the amended requirement set out in the new Ethics Code for Members, which became effective from 1 May 2020. All forms of advertising, including websites and social media, should be fair and avoid unsubstantiated claims, such as reference to Government-backed or approved schemes, perceptions to high level of debt write off or general rights to employment claims. The IPA supports high marketing and introducer firm standards, and does not recognise the use of non-FCA regulated introducers.

Please take the time to understand and follow the guidance here.