Regulatory Alerts2024-03-18
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FG25/2: Guidance for insolvency practitioners on how to approach regulated firms
The Financial Conduct Authority finalised updated guidance in April 2025 setting out expectations for insolvency practitioners dealing with the failure of regulated firms. The guidance requires practitioners to ensure regulated firms meet ongoing obligations, including obtaining FCA consent for out-of-court administrator appointments and sharing court documentation. It specifies procedures for pre-insolvency checks, engagement with the regulator, and handling client assets under CASS rules, while noting that the Handbook continues to apply to firms in insolvency proceedings.
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