Marcial Boo, CEO
IPA Insolvency Practitioner newsletter, February 2025
Dear members,
I’ve been delighted in the last month to see the level of engagement with this year’s IPA Awards. The high calibre of candidates’ nominations reflects the good work in the insolvency profession in 2024. We look forward to revealing the winners at the sold-out Awards Charity Dinner on 6th March. Good luck to the nominees on the night!
Later in March, I hope to see some of you in Wales at the Roadshow in Cardiff, for which the full programme has been announced.
In this month’s newsletter, there are some notable regulatory developments across insolvency and AML work, including:
- For those taking appointments in Scotland, following legislation amendments in January, there are further bankruptcy changes coming into play in the form of changes to the requirements of trustees when submitting accounts to the Accountant in Bankruptcy (AiB) in accordance with section 131 and 132 of the Bankruptcy (Scotland) Act 2016. Read more here.
- The latest Suspicious Activity Report (SAR) Reporter Booklet is highly recommended reading, and highlights how identifying and report suspicious activity is crucial in protecting the financial system.
- The Office of Financial Sanctions Implementation (OFSI) is hosting an industry engagement and Q&A session on Thursday 28th February on the new reporting requirement for Insolvency Practitioners in the sanctions report regime, in effect from 14 May 2025.
- And OFSI has also published its latest Financial Service Threat Assessment Report which will be useful for Insolvency Practitioners. Read more here.
Best wishes to you all, and I hope to meet you at our events in March.
Marcial Boo