Major overhaul would see single insolvency regulator

In a wide-ranging overhaul of the insolvency rules, the government is proposing the creation of a stand-alone independent regulator to monitor insolvency practitioners and firms for the first time

The government is consulting on changes to the way the insolvency profession is regulated. The current system has been in place for over 30 years and needs reform to be able to keep pace with developments in the insolvency market.

One of the significant changes would see firms brought under the regulatory regime, rather than just individual insolvency practitioners.

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