Paul Smith, CEO

IPA Insolvency Practitioner newsletter, July 2023

Contents

• Paul Davis, President
• Regulatory update for Insolvency Practitioners: Importance of reviewing updates to the OFSI sanctions lists
• OPBAS Supervisory Report 2022/23
• 2023 Roadshow Series: Leeds highlights
• …Next stop, Scotland! (CPD: 4h)
• Bookings are open for the 15th Personal Insolvency Conference (CPD: 6h)
• Do you know someone in the profession who deserves recognition this year?
• 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)
• Exclusive discounts on training from the IPA and our partners – make savings on essential CPD
• An opportunity for Registered Property Receivers!
• Case law update
• IPA exclusive industry update from Insolvency Insider

Dear Members,

I want to begin today by taking a moment to reflect on the recent passing of Ian Bond whom I am sure will be known to a great many of you. Ian was President of the IPA in the period 1990 to 1992 at the same time as being the first President of the newly formed Society of Practitioners of Insolvency (SPI) which was later to become R3. I did not have the pleasure of meeting Ian during my time at the IPA, but it is evident he was very well known across the profession and will be sadly missed. Our thoughts are with Ian’s family, friends and former colleagues at this time.

Turning to the regulatory agenda, please be aware that there have been further changes to the UK sanctions lists. This most recent update makes 16 amendments to the Office of Financial Sanctions Implementation (OFSI) sanctions lists, which contain over 48,000 entries. Changes or additions to the sanctions lists may impact your work and so it is essential that you are aware of them. As you will know, Insolvency Practitioners are responsible for establishing a process for regularly reviewing OFSI sanctions list updates, and penalties for breaching financial sanctions are severe. We have produced guidance to members on changes to the OFSI sanctions list, which we strongly recommend that you review – read this here.

I mentioned last month about our dedicated AML and fraud event in Birmingham in September. Considering the changes to the sanctions lists and that AML and fraud matters in insolvency practice are particularly fast-moving, you may wish to consider attendance at this event for you and your team. You can book places here.

To echo the President, Paul Davis’s comments, on the back of a great event last December, nominations for the 2023 IPA Awards are open. If you know someone in the insolvency profession whose achievements should be celebrated, please make sure you submit your nomination(s). Read more here.

Best wishes,

Paul Smith