Dear IP 78.

Dear IP 78 was issued a few days ago and gives information about the Insolvency Service website, applications for block transfers of cases and practical advice about the Court of…

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Insolvency compliance; SIP 1 and the Ethics Code

Insolvency practitioners are authorised and regulated by recognised professional bodies (RPBs) under S391 Insolvency Act 1986 (IA1986). The Joint Insolvency Monitoring Unit (JIMU) was established in 1994 to carry out the reviews necessary to provide information to the RPBs so that they could carry out the regulatory process. These reviews are of course now carried out by the ICAEW and the IPA, themselves regulated by the Insolvency Service.
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A checklist for checklists

Since the Insolvency Rules 2016 were published and then became law in April 2017 many insolvency practitioners have bought ‘packages’ of standard documents, including template notices, checklists, letters and reports, in order to assist in achieving compliance with the new rules. Such standard documents are then applied to all aspects of insolvency administration and are used by members of staff with varying levels of qualifications and experience.
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Key changes affecting insolvency practitioners from 26 June in the latest money laundering regulations.

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR2017) have been effective since 26 June 2017. A brief consultation period on the draft regulations ran from 15 March 2017 to 12 April 2017, MLR2017 were laid before Parliament on 22 June 2017 and became effective four days later. It is perhaps not surprising that there has not been much comment about MLR2017 – there has not been much opportunity for this.
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