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New Ethics Code: Public Interest Code training

Delivered in partnership with ISS Training, our training events on the new Ethics Code and public interest regulation are ideal for those operating in the consumer debt solution market and those who want to understand more about how the market is regulated and the expectations of the industry’s principal regulator. One of the two workshops is a closed session for members of our Volume Provider Regulation (VPR) Scheme.

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 Insolvency Practitioners 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 pandemic, there is an expectation that the number 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.

The two workshops have small group sizes and a high level of interactivity. A limited number of tickets are available.

Tuesday 26 January

10:00-13:30 on Zoom

For VPR Scheme member organisations

Scheme member firms receive three complimentary places, with additional spaces billed at a discounted price of £70 + VAT.

Book today!

Thursday 28 January

10:00-13:30 on Zoom

Open to all

Price: £120.00 + VAT

Book today!

Workshops content

  • 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
  • Planned further revision
  • Interpretation of requirements into working practices:
    • Meetings
    • Fee explanations
    • I&E accuracy
    • Treatment of equity in property
  • 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 wellbeing
  • Incorporating vulnerability awareness into working practices