New FCA guidance for insolvency practitioners of regulated firms

The FCA has published finalised guidance for insolvency practitioners on how to approach insolvencies of regulated firms. The guidance provides practical advice on the FCA's expectations at the different stages of insolvency, from the pre-insolvency stage to insolvency and restructuring procedures. 

Key themes in the guidance include the importance of early engagement with the FCA, ensuring that consent is sought from the FCA should a firm seek to appoint an administrator through an out of court process and communicating well with clients. There is also guidance on interacting with FSCS and the Ombudsman Service, the sale of client data as well as specific guidance for insolvency practitioners of payments and e-money institutions. 

Overall, the guidance is essential reading for insolvency practitioners of regulated firms!