Marcial Boo, CEO

IPA Insolvency Practitioner newsletter, May 2025

Dear members,

I was delighted to meet so many of you at our IPA Annual Conference, and at our sold-out Roadshow in Birmingham too. Conference delegates heard from the Insolvency Service, FCA, HMRC, Companies House, the Office for National Statistics and the Treasury. Renowned political scientist Sir John Curtice charmed us with his thoughts on local elections too. Thanks for all your positive feedback on the events. More are listed here.

We have just published our IPA 2024/25 Impact Report showing how we are increasing our membership and improving the way we regulate and support the insolvency profession. Do have a look at the report for more details.

As members will know, we have our IPA AGM today. Adrian Hyde’s year as President will end at the AGM, with Yin Lee taking his place, and Louise Brittain becoming Vice President and Amanda Wade Deputy Vice-President. It has been a great pleasure working with Adrian, and I want to thank him for his excellent job to help the IPA to make further positive strides in its regulatory work and in championing the interests of the insolvency profession. I’m glad he will stay on the Board as Past President. I very much look forward to working with Yin, and I hope you will meet her soon at our forthcoming events.

Back on regulatory matters, the new Office of Financial Sanctions Implementation (OFSI) reporting requirements came into effect on 14 May. And I strongly recommend that you read our guidance on Suspicious Activity Reports (SARs) in this issue, which also featured in April’s AML Digest, as poor SARs are the main reason for a sanction and fine against IPs for AML compliance failure.

Best wishes,

Marcial Boo