New Continuing Professional Education Guidance, Professional Indemnity Insurance Regulations, Client Money Regulations and Client Money Guidance for 2024
IPA Insolvency Practitioner newsletter, November 2023
Following a review, the IPA Continuing Professional Education (CPE) Guidance, Professional Indemnity Insurance Regulations (PIIR), Client Money Regulations (CMR) and Client Money Guidance have been revised and updated.
The new Regulations and Guidance have been approved by the Board and will come into effect on 1 January 2024.
The revised PII Regulations will apply to PII policies commenced or renewed after that date. You may continue to rely on an existing PII policy which meets the requirements of the IPA’s PII Regulations (issued January 2017) until expiry of that policy’s current term after which your PII policy must comply with the new regulations.
The majority of the revisions improve the clarity of the Regulations and Guidance and make them more practical in recognition of changes in the insolvency profession since they were last revised.
Edit: On 11 December 2023, we published and sent to members further updates to the PIIR and also published accompanying PIIR Guidance. These documents are available below. The further changes to the PIIR are outlined here.
The new CPE Guidance, PIIR, PIIR Guidance, CMR and CMR Guidance are available here:
IPA Professional Indemnity Insurance Regulations
IPA Professional Indemnity Insurance Regulations Guidance
IPA Continuing Professional Education Guidance
There will be a webinar introducing the new Regulations and Guidance on 12 December at 12:30. Joining details will be circulated shortly.
In the meantime, please contact regulation@ipa.uk.com if you have any questions.