Insolvency Practitionerannual Return

Insolvency PractitionerAnnual Return

Name of Firm/Individual (see note 1 on page 2):

For the Period

From:

To:

Submit this Annual Return to:

Financial Services Commission

PO Box 940

Suite 3, Ground Floor

Atlantic Suites

Europort Avenue

Gibraltar

To be returned no later than two months after the financial year end.

For Financial Services Commission use:

Date received:

Checked by:

Follow up required:

Date of Revision: 19Dec2016

Version 2.01

NOTES FOR COMPLETION

1.For the purposes of this form the term ‘firm’ refers to firms where more than one Licensed Insolvency Practitionersare practising under the same firm. A firm is permitted to submit this form as an annual return on behalf of all its Registered Insolvency Practitioners. If this form is being used individually by a Licensed Insolvency Practitioner, insert your name under Insolvency Practitioner 1.

Individuals or firms are required to submit the Annual Return on an annual basis for theindividual or the firm’s financialyear end.
The Annual Return should be submitted to the FSC within two months of the firm’s financial year end.
For the purpose of completing the Annual Return, the approval number is shown on the FSC Public Register.
Reference to Insolvency Practitioners in 1.4, 2.2 and 2.3 should be as per Insolvency Practitioner number in section 1.1.

If the form is being completed as a firm, who should the FSC contact?
Name
E-mail Address

List of Insolvency Practitioners, practising withaconnected Firm – see note 2

1.1Detail the Insolvency Practitionerspractising within a firm / name of Insolvency Practitioner completing this form individually

Name of Insolvency Practitioner / Approval Number / Restricted license (Yes/No)
Insolvency Practitioner 1
Insolvency Practitioner 2
Insolvency Practitioner 3
Insolvency Practitioner 4
Insolvency Practitioner 5
Insolvency Practitioner 6
Insolvency Practitioner 7
Insolvency Practitioner 8
Insolvency Practitioner 9

Personnel, Fees and other Financial Information

1.2Personnel

i / Total number of Insolvency Practitioners
ii / Total number of insolvency staff (excluding those in i)
iii / Other subcontracted or temporary personnel not included above

1.3Summary financial details

As at the last day of the individual / firm’s financialyear end:

Last financial period

i / From: / To:

Individual / Firm’s Total income

ii / £

Income for insolvency services

iii / £

1.4Largest fees

Details should be provided forthe five largest insolvencyengagements that have been conducted throughout the period under review.

Engagement name (or Unique reference number) / State whether solvent or insolvent engagement / State type (eg Voluntary or Compulsory Liquidation, Receivership, Bankruptcy etc…) / Work in progress
(A) / Fees for Engagement
(B) / State what other services you have provided in the last three years, if any. / Fees for other services
(C) / Insolvency practitioner name (s) holding appointment
i / £ / £ / £
ii / £ / £ / £
iii / £ / £ / £
iv / £ / £ / £
v / £ / £ / £

1.5Safeguards

Please note that where you have been involved in an insolvent engagement and have provided other services to the same entity in the past three years, this may affect your integrity, objectivity and independence. If such a situation has occurred please state what safeguards are in place to ensure your integrity, objectivity and independence has been preserved.

N/A

Insolvency Client Information

2.1Number of solvent liquidations and insolvent engagements – see notes for completion below

Please provide the following information

Active cases brought forward from previous period / New engagements commenced in the period / Engagements terminated in the period / Active cases carried forward to subsequent period
i. / Solvent liquidations
ii. / Insolvent liquidations
iii. / Company voluntary arrangements
iv. / Receiverships
v. / Administrative Receiverships
vi. / Administrations
vii. / Individual voluntary arrangements
viii. / Personal bankruptcies
ix. / Total insolvent engagements
x. / Total engagements

Engagements commenced date means the date of appointment as office holder(e.g appointment as liquidator under Companies Act, Administrator under Insolvency Act, etc)

ii. Engagements terminated means the date as release as office holder or termination of engagement.

2.2Long running engagements

Please provide details for any engagements which have been running for more than three years

Engagement name (or Unique reference number) / State whether solvent or insolvent engagement / State type (eg Voluntary or Compulsory Liquidation, Receivership, Bankruptcy etc…) / Date engagement commenced / Work in progress / Fees for Engagement / Brief reason for longevity of the engagement / Insolvency practitioner(s)
i / £ / £
ii / £ / £
iii / £ / £
iv / £ / £
v / £ / £

2.3High risk engagements

Please provide details for any engagements which are considered to be “high risk”. An engagement would be considered to be “high risk” where:

(a)An entity was authorised by the FSC

(b)The engagement involves litigation either by the insolvency practitioner against a third party or by a third party against the entity

(c)There is evidence of criminal activity in the entity

(d)An application has been made by the insolvency practitioner to the Official Receiver for the disqualification of a director

Engagement name (or Unique reference number) / State whether solvent or insolvent engagement / State type (eg Voluntary or Compulsory Liquidation, Receivership, Bankruptcy etc…) / Date engagement commenced / Work in Progress / Fees for Engagement / Brief reason why the engagement is considered to be high risk / Insolvency practitioner(s)
i / £ / £
ii / £ / £
iii / £ / £
iv / £ / £
v / £ / £

Dismissal and resignation of anInsolvency Practitioner from aFirm

3.1Has the individual/firm for the period covered by this return informed and explained to the competent authority of any dismissal or resignation of anInsolvency Practitioner during the reporting period?

NoYes N/A

If NO please provide details below.

Professional Ethics, Independence, Objectivity, Confidentiality, Professional Secrecy and Competency

4.1 Has the individual/firm ensured it has complied with the requirements of the Insolvency Practitioner Code of Ethics published by the Insolvency Service?Please find a link below.

NoYes

If NO please supply details of the remediation conducted in order to comply with them.

4.2Has the individual and all relevant staff and directors/partners signed annual declarations covering professional ethics, independence, objectivity, confidentiality and professional secrecy?

NoYes

If NO please supply details of the remediation conducted in order to comply with them.

If YES please supply details of the date that the last declarations were signed.

4.3Has the individual/firm ensured that all employees conducting insolvency work are competent to carry out the insolvency work for which they are responsible?

NoYes

If NO please supply details of how insolvency practitioners and employees have been able to carry out the insolvency work for which they are responsible?

What action has been taken were there are issues or doubts over competence?

AML/CFT

5.1Please describe the manner in which the individual/firm has implemented systems of control to prevent the financial system from being used for money laundering or terrorist financing activities.

Professional Indemnity Insurance

6.1Is the individual/firm covered by professional indemnity insurance “PII”?

NoYes

Amount & Currency
Excess
Name of Insurer
Expiry Date

6.2When did the individual/firm last review the adequacy of its PII?

Date of last review:

Continuing Education and Professional Qualifications

7.1Has the firm and all approved Insolvency Practitioners undertaken appropriate programmes of continuing education during the period covered by this return as required by the requirements of the Insolvency Practitioner Regulations 2014 and appropriate evidence exists (including meeting the requirements of a professional body)?

NoYes

If NO please supply details of the remediation conducted in order to comply with the requirements of the Insolvency Practitioner Regulations 2014.

7.2Please attached a summary sheet of continuous professional development for each approved Insolvency Practitioner for the period covered by this return.

7.3During the period in question and up to the sign off of the Annual Return, is the firm and all approved Insolvency Practitioners employed by the firm continued members of a professional body (i.e. ICAEW, ACCA)?

NoYes

If no, please provide further details:

Good Repute

8.1During the period in question have you orany of the Insolvency Practitioners of the firm been;

i / convicted by a court of any criminal offence? / NoYes
ii / refused the right or been restricted in the right to carry on any trade, business or profession, for which a specific licence, registration or other authority is required? / NoYes
iii / refused entry to or excluded from membership of any professional or vocation? / NoYes
iv / reprimanded, excluded, disciplined or publicly criticised by any professional body to which you belong or have belonged? / NoYes
v / the subject of disciplinary procedures by a professional body or employer resulting in a finding against you? / NoYes
vi / made the subject of a court order at the instigation of any professional or regulatory body? / NoYes
vii / dismissed from any office (other than as insolvencyor) or employment or requested to resign from any office, employment or partnership? / NoYes
viii / reprimanded, warned about future conduct, disciplined or publicly criticised by any regulatory body, or any officially appointed enquiry concerned with the regulation of a financial professional or other business activity? / NoYes
ix / the subject of a court order at the instigation of any regulatory body, or any officially appointed enquiry concerned with the regulation of a financial, professional or other business activity? / NoYes
x / investigated on allegations of misconduct or malpractice in connection with its professional or business activities which resulted in a formal complaint being proved but no disciplinary order being made? / NoYes
xi / involved in any litigation as either claimant, or defendant, or have you become aware of such proceedings being commenced? / NoYes

8.2Explanations:

If the answer to any of the questions contained in 8.1is YES and the FSC has not been notified you must, give a full explanation of the events in question on a separate sheet of paper.

Make sure you include:

the question number the event refers to;
the date of events
any amounts involved
the outcome; and
an explanation of the circumstances.

IMPORTANT: If at any time subsequent to the submission of this return if you, or any of the Insolvency Practitioners of the firm, are subject to any action stipulated in 8.1 you should inform the FSC immediately. Failing to do in a timely manner may result in disciplinary action being taken against you.

Registration with other authorities

9.1Details of any other country in which the firm or insolvency practitioner has an insolvency registration.

Country / Insolvency Registration Board / Registration Number / Date of Registration / Date Registration Ceased

Information contained in the public register

10.1Has the firm reviewed the public register onlineand can it confirm that the details contained therein are correct?

NoYes

10.2Are there any changes to the information contained in the public register?

NoYes

10.3 If the firm has answered YES to 10.2 please provide details of any relevant changes.

I hereby confirm:

(i)that I have truthfully and fully answered the relevant questions in this Annual Return and disclosed any other information which might reasonably be considered relevant by the FSC in the carrying out of its statutory duties in respect of the firm;

(ii)that I will promptly notify the FSC of any changes in the information I have provided and supply any other relevant information which may come to light;

(iii)to reflect that responsibility for compliance with the Insolvency Act 2011 is primarily that of the firm’s management, the contents of this return have been approved by the firm’s board; and

(iv)that, if requested, I will disclose to the FSC any other information in support of answers given in this return.

Dated:

Signed:

Position:

For and on behalf of (name of the approved Insolvency Practitioner or firm):