Some of you may have noticed that the R3 Creditors’ Guide, www.creditorinsolvencyguide.co.uk website is currently suspended for a redesign. We think that the site is a useful resource that, in conjunction with the SIP 9 Guides to Fees, helps to meet the SIP 9 requirement to inform creditors of their rights.
We are aware of at least one regulatory monitor asking why the link is included in circulars when the site is not operating. The simple answer from our perspective is that we expect the site to be up and running soon and it is not worth amending all of our standards to take it out, only to have to re-insert it afterwards. In most of the cases that the monitors will be reviewing at the moment, the link was working when the notice was issued.
However, to avoid upsetting anyone, we recommend that you delete the link to the creditor guide site from any standards as you use them, until it is up and running again. We will try to remember to Blog an update when it is back in action.
We are aware of at least one regulatory monitor asking why the link is included in circulars when the site is not operating. The simple answer from our perspective is that we expect the site to be up and running soon and it is not worth amending all of our standards to take it out, only to have to re-insert it afterwards. In most of the cases that the monitors will be reviewing at the moment, the link was working when the notice was issued.
However, to avoid upsetting anyone, we recommend that you delete the link to the creditor guide site from any standards as you use them, until it is up and running again. We will try to remember to Blog an update when it is back in action.
