Insolvency Practitioners – IVA Compliance

If you are an Insolvency Practitioner (IP) who is reliant on the IP Exemption, you must meet a number of requirements to ensure that you are compliant. This includes SIP 3.1 obligations, the Code of Ethics, guidance produced by the Insolvency Service and Insolvency Practitioners Association as well as compliance with the Advertising Standards Authority’s (ASA’s) Codes of Conduct i.e., CAP and BCAP Code where applicable.

Many Insolvency Practitioner’s and their practices rely on third party introducers and marketers. Insolvency Practitioners should therefore be satisfied that reliance on third parties who advertise for work are also compliant i.e., to ensure content is fair and not misleading, avoids unsubstantiated claims or disparaging statements and complies with relevant codes of practice and guidance.

How can Scott Robert help you?

Interested in seeking compliance with your requirements? Scott Robert can certainly assist your firm.

If you are acting strictly as an Insolvency Practitioner, we can assist you with your ongoing obligations. Our bespoke plans are designed to fit your individual needs and budget. Examples of how Scott Robert can assist are detailed as follows:

  • Call and Email Support
  • Policy Document Creation, Review and Amendments
  • Second and Third Line of Defence Monitoring and Guidance
  • Compliant Handling Assistance
  • 1st (IP) and 2nd party (Introducers/Marketers) Marketing and Website Reviews

Many IP firms also wish to seek out direct authorisation with the Financial Conduct Authority (FCA) in order to provide advice and debt adjustment in relation to a broad spectrum of debt solutions. For more information or where you are already dually authorised and require assistance, please see our webpage concerning Debt Counselling and Debt Adjustment.

You may wish to also consider credit broking or mortgage intermediation permissions where you wish to introduce for unsecured and/or secured debt consolidation loans. For further information please see webpages concerning Credit Broking and Mortgage Broking. It should be noted that you may be able to introduce for secured debt consolidation without the need for authorisation.

If you are unsure as to whether you satisfy the IP exemption it is important to understand that conducting FCA regulated activities without the correct authorisation is a criminal offence. Speak to one of our experts today for confidential and no obligation advice.

Why Choose Scott Robert?

Scott Robert has been supporting an array of regulated firms since 2008. In that time, we have helped hundreds of businesses to successfully maintain compliance with relevant requirements.

We employ a team of compliance professionals who are both highly experienced and expertly skilled. We specialise in providing our clients with solutions to often complex regulatory requirements and compliance needs.

Our industry insight and comfort with compliance enables our team to support you to the fullest extent possible, helping to develop your business model and compliance.

Interested in learning more about how you can comply with your requirements? Call us today by calling 0161 914 5727 to find out more.

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