IPA Statement on the Insolvency Service’s Call for Evidence on Insolvency Practitioner Regulation
On 12th July 2019, the Insolvency Service published the expected Call for Evidence on Insolvency Practitioner Regulation. The document seeks evidence on the impact of the statutory regulatory objectives for the Insolvency profession, introduced by The Small Business Enterprise and Employment Act 2015 (SBEE Act) in October 2015. The document starts the process to inform government as to whether or not the regulatory objectives have had their intended impact or whether there is a need to make further changes.
You can find a link to the documents here.
The IPA believes that a strong regulatory framework is critical for a successful profession and welcomes the opportunity to review the operating landscape. The IPA supports the Insolvency Service’s approach to consider all areas for change, rather than focusing on any one particular reform.
The IPA will be formulating a response through a Working Group of the Standards Ethics and Regulatory Liaison Committee. Members’ views will be key in this process, and there will be opportunities for members to engage as we determine our answers to the Insolvency Service’s questions.
In the meantime we are very keen to hear any initial reactions, and we would welcome any thoughts you may have.