Regulatory and Conduct news September 2025

On 12 September 2025 a voluntary repayment scheme was launched to provide COVID scheme recipients with a ‘no questions asked’ window to repay outstanding money they were not entitled to or did not need.

The Insolvency Service has confirmed that repayment under the voluntary repayment scheme does not guarantee any protection to directors from enforcement action and that insolvency practitioners should continue to report misconduct in the usual way through the Director Conduct Reporting Service (DCRS), including whether they are aware of any repayment being made. In addition to the DCRS reporting, they should also submit a suspicious activity report where they come across support that was fraudulently obtained or used.

Where an IP becomes aware of a possible fraud outside of an insolvency situation they should report it to the appropriate authorities.

Access the recording to hear from ICAEW experts, who present key findings published in the Practice Assurance Monitoring Report 2025, offering guidance to help your firm strengthen its approach. They go through the results from nearly 1,500 quality assurance monitoring reviews and highlight common problem areas addressing two key areas of focus: the use of artificial intelligence and eligibility issues.

His Majesty’s Government (HMG) is gathering UK industry’s feedback on experiences navigating UK sanctions compliance issues, guidance and regulators.

Your feedback will inform how HMG implements sanctions compliance requirements in the future. The survey responses will provide HMG with valuable insights to identify knowledge gaps, explore ways to improve industry compliance, and minimise barriers to legitimate business.

Rotas have been restructured to align with the Insolvency Service’s Regional Centres, and eligibility will now be based on the nearest County Court Hearing Centre.

Firms already on the rota will be contacted. If you’re not currently included and wish to apply, email ip.requests@insolvency.gov.uk by 1 October 2025.

The results of ICAEW's fifth Probate Diversity Survey are available. The report includes data from more than 10,000 responses and provides valuable insights into how the diversity profile of ICAEW probate firms is evolving. Access the comprehensive report, summary and webinar to learn about the results.