DEMSA update: Consumer Duty / CP23-5 / IVA report 2022 / IMLT / DORA / Training / Events


Personal insolvency practitioners will be aware of important changes to SIP 3.1 (IVAs) that took effect last week and previously covered by DEMSA. The principal changes in the revised SIP 3.1 relate to the degree of emphasis on the IP’s responsibility to ensure that the debtor has received suitable advice prior to entering an IVA and during its implementation. This includes ensuring that the debtor understands all potential debt relief solutions available and that they are provided with adequate opportunity to consider the consequences and the options available before entering an IVA.

Money Charity debt statistics

After StepChange Debt Charity reported record volumes of debt advice sessions in January 2023, the The Money Charity has publishe...

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