Consultation opens
19/03/2024
Consultation close
30/04/2024
30/04/2024
GC24/1: Proposed amendments to FG21/4 - Guidance for insolvency practitioners on how to approach regulated firms
We are consulting on amendments to reflect legal, regulatory and economic changes and to improve clarity and provide further information on certain aspects of the guidance.
Why we are consulting
In 2021, we published FG21/4: Guidance for insolvency practitioners on how to approach regulated firms.
Since then, there have been changes in the legal framework affecting firm failure, changes in the regulatory framework and changes in the UK economic climate.
Given this we believe that while the guidance remains relevant it would benefit from updating. We have also had feedback that, in some areas of the guidance, we could improve clarity or provide more information.
Who this is for
The proposed guidance is aimed at insolvency practitioners (IPs) appointed over firms solely authorised or registered by the FCA.
It may also be relevant for IPs appointed over firms that are dual regulated by the FCA and PRA.
Next steps
This consultation has now closed. We are currently reviewing responses and intend to provide an update later this year.