The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2024 ("the 2024 Act") introduces some changes to the statutory insolvency regime in Ireland. The relevant provisions of the 2024 Act came into effect earlier this month on 1 July 2024.

On 12 May 2021 the FCA issued finalised guidance for insolvency practitioners who are tasked with managing insolvencies of regulated firms.

Aiming to help insolvency practitioners understand how to deal with firms in line with FCA requirements, the guidance covers the process from end-to-end including expectations in the pre-insolvency stage and specific procedures relating to insolvencies and restructuring. The aim of the guidance is to assist with the minimising of the impact of a failure of a regulated firm