Peter Wordsworth discusses a significant development in the regulatory landscape/ The Insolvency Service and the Financial Conduct Authority (FCA) are now collaborating for the first time, particularly in the Individual Voluntary Arrangement (IVA) sector.
This partnership aims to address previous regulatory gaps, where IVAs were not directly regulated by the FCA but through other bodies, creating a gray area especially concerning creditor regulation.
He views this cooperation as a positive change that could benefit creditors, insolvency practitioners, and consumers alike by providing more comprehensive oversight and potentially enhancing the regulatory framework.
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