Business and Other Briefings
IS: A voluntary code of conduct has been agreed with the organisations & bodies involved in managing and agreeing individual voluntary arrangements (IVAs) following a series of discussions & negotiations facilitated by The Insolvency Service.
The voluntary code is intended to ensure the processes involved which lead to an IVA will be more transparent and includes standard terms & conditions, greater certainty on dealing with a debtor's home and greater reassurance for creditors & debtors that the best option has been presented.
FSA: The Financial Services Authority (FSA) has published its Financial Risk Outlook (FRO) warning firms & consumers of the risks inherent in a significantly less benign economic environment. It focuses on the risks arising from the events of the second half of 2007 and the less benign economic outlook expected over the next 18 months. Its central scenario identifies the five priority risks.