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Paul Smith, CEO

Hello all. I was pleased to attend a discussion with the All-Party Parliamentary Group on Debt and Personal Finance, alongside the IPA’s Head of Regulation and other stakeholders last week. Focus was on the IVA market and we will be seeking to maintain close contact with this APPG going forward.

The timing of the review of the personal insolvency framework is welcomed by the IPA, coinciding as it does with the careful consideration of the recent responses to the Future of Insolvency Regulation by the Insolvency Service. We will be reiterating our call for firm regulation as part of our response to the review, a stance we have held for over five years. Any regulator will need this as part of the overall regulatory framework going forward.

The IPA will be sending a response to the review, and we would be pleased to consider any input our members may wish to contribute. You can view the consultation here, and please email [email protected] with any thoughts you wish to share with us.

The IPA team have been actively participating in addressing the shortcomings of advertising practices in the personal debt solutions market. The personal insolvency consultation is therefore a good opportunity to remind members of the recent Enforcement Notice on this topic. Read a full reminder on this in this month’s issue.

We remain in active discussion with the Insolvency Service on the future regulation of the sector, with our next discussion scheduled in early August.

2022 IPA Awards and Reception – as in the past, and with a keen eye on the future, the IPA will be celebrating the various successes of the talented people in our profession, and we hope you will be too – nominations will open on 1st September for the IPA Awards, so look out for further communications on those and the ceremony on 9th November.

Paul