Paul Smith, CEO
IPA Insolvency Practitioner newsletter, February 2023
Contents
- Samantha Keen, President
- HMRC update
- Reporting mis-use of bounce back loans
- Unregulated debt advice
- Insolvency Practitioner identity fraud and scam websites
- Licences from OFSI
- SAR reporting
- CPD guidance for IPA members
- Unlocking talent in the insolvency profession
- Are you abreast of the 2020 Code of Ethics update? An essential webinar on ethics in practice (CPD: 1.5h)
- 2023 Annual Conference: Venue and speakers announced – places selling fast! (CPD: 6h)
- Personal Insolvency Conference early bird booking rate now available for a limited time only! (CPD: 6h)
- Make savings on essential CPD with exclusive discounts on training from the IPA and our partners
- IPA examinations update
- Discounted meeting facilities from Office Space in Town (member login required to view)
- Save money on your airport parking with APH! (Member login required to view)
- Need new IT products? Claim exclusive IPA membership offers from Dell
- CPI training with BPP – special offer for IPA members (member login required to view)
- Join the Turn2us IPA Step Challenge!
- IPA exclusive industry update from Insolvency Insider
Hello all.
It was a pleasure to attend last week’s IPA event “The Power of Diversity: The Key to Unlocking Talent in Insolvency” hosted at EY’s London Offices and be in the company of so many from our profession, both speakers and delegates, who are dedicated to helping build a diverse future for this sector and beyond. I am looking forward to the development of the various initiatives discussed, and for the IPA to be an integral part of the ongoing work in this respect. Read more on the afternoon here.
Building on last week, the IPA will examine the very important issue of social mobility within our programme for the upcoming Annual Conference in April, for which the full programme of speakers and sessions will be announced soon. Confirmed speakers include Donna Leong, Director of Analysis and Chief Economist at the Department for Business, Energy and Industrial Strategy; Gideon Skinner, Head of Politics Research in Public Affairs at Ipsos Mori; Dean Beale, Chief Executive at the Insolvency Service; and Simon Chaplin, Assistant Director, Fraud Investigation Service Economic Crime Strategy at HMRC. You can secure your place at the Conference here.
If you have been following our posts on LinkedIn or are a regular visitor to our website, you will have noted that we have recently seen a spate of fraudulent activity relating to the personal insolvency and debt advice sector, where unscrupulous websites feature as paid ads in Google search results for help with debt, appearing to be offer debt advice services, but without the appropriate permissions. Firm and IPA credentials are also being fraudulently used in these advertisements. We are also still seeing the impersonation of charities and the breaching of trading disclosure requirements, including failing to disclose a valid registered company name.
We have zero tolerance for this activity. As members will be aware, under the Code of Ethics, an Insolvency Practitioner is responsible for all marketing or promotional activity leading to an appointment. As well as the requirement not to accept unregulated leads, you should report them to us along with any evidence. Failure to do so only allows this practice to continue, and in the best interests of the profession and the public interest, it needs to be stopped. Reports can either be done via regulation@ipa.uk.com or anonymously at amlwhistleblower@ipa.uk.com if you wish to report anonymously. The IPA reports scam and fraudulent activity on our website, as well as on our social media channels. In connection with this matter, the next IPA Learning module on 16th March will give a refresher on the required ethics in insolvency and, importantly, their practical application – more details to follow and places can be booked here. You can follow us via these links on LinkedIn and Twitter.
Finally, there isn’t long to go until the upcoming changes to SIP 3.1 (IVAs) come into play. Click here for a refresher on the changes.
Best wishes,
Paul