IPA Insolvency Practitioner newsletter, February 2023
- Paul Smith, CEO
- 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
- 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
As insolvency work is a regulated sector for money laundering purposes, members should be aware of the requirement under the Proceed of Crime Act 2002 (POCA) for firms’ Money Laundering Reporting Officers (MLROs) to make Suspicious Activity Reports (SARs) to the National Crime Agency (NCA) when the MLRO is advised of knowledge or suspicions of activity that may indicate money laundering.
This is an important duty in assisting the NCA in the collation of intelligence that assist with combating money laundering and criminal activity. As a reminder, the IPA as an AML Supervisory Authority has the ability to review the submission and content of SARs by firms we supervise for AML purposes. If your firm is supervised by another AML Supervisory Authority, that authority also has the right to review SARS (contained in S333D POCA & S66 of the 2017 Money Laundering Regulations (as amended)). The NCA have published an updated guidance note on SARs which includes best practice on SARs submission. The guidance can be found here.