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Industry


Debt purchaser agrees redress package

A debt purchase and collections firm has agreed with the Financial Conduct Authority (FCA) to provide redress to more than 500,000 customers for historic failures in its due diligence and collections process. Read full story


Williams & Glyn costs hit £1.5bn as RBS posts loss

RBS has admitted that costs relating to the Williams & Glyn sale have hit £1.5bn – and that the divestment will miss its deadline. Read full story


Investigation services join forces

Carnoustie Resources, the tracing and data services company trading as Carn Global, has acquired an investigation service used by insolvency practitioners and the government. Read full story


Financial advisers banned for committing fraud and forgery

Two financial advisers have been banned from working in financial services after pleading guilty to committing fraud and forgery. Read full story


TRI Awards winners revealed

Insolvencynews.com can this morning reveal the full list of winners for the relaunched 2016 Turnaround, Restructuring and Insolvency Awards (TRI), sponsored by Capa. Read full story


HSBC restructuring director joins Home Office

A HSBC director in charge of assisting and restructuring large corporate customers of the bank has left to join a government agency. Read full story


Young women struggling to stave off insolvency

Young women made up the majority of personal insolvencies last year and the figures have been rising since 2010, according to research from Moore Stephens. Read full story


Insolvency practitioners predict Brexit will boost business failures

Two thirds of the insolvency profession believe Brexit will increase the number of business failures in the UK over the next 12 months, according to a survey by Pinsent Masons. Read full story


“Dash for Cash” documents shame RBS’s corporate restructuring unit

Many new businesses have contacted the company taking RBS to court over its defunct previous treatment of struggling business customers, following a series of damaging leaked documents. Read full story


FCA bans payday lender and director for “lacking integrity”

A payday lender has been refused interim permission and had its director banned. Read full story


CCS Awards finalists revealed

The shortlist for Credit Strategy’s Collections & Customer Service Awards 2016 has been announced, with 45 finalists in the running to win 12 awards. Read full story


70,000 debt management plans orphaned

An estimated 70,000 commercial debt management plans (DMPs) may have been ‘orphaned’ since the Financial Conduct Authority (FCA) full authorisation process began. Read full story


FCA fines insurance firm £8.2m

The Financial Conduct Authority (FCA) has fined insurance company Aviva £8.2m for client money and assets failings. Read full story


Director disqualified for ‘alternative scams’

A company director has been banned for 15 years for investment scams which caused losses of £13m to customers. Read full story


Scottish law firm expands into England and Wales

A Scottish law firm has announced its first expansion into England and Wales with the acquisition of a legal business in Newcastle. Read full story


12,000 jobs saved by TRI entries

More than 12,000 jobs have been saved by the business recovery firms that have entered this year’s “Turnaround, Restructuring and Insolvency (TRI) Awards”. Read full story


Businesses with assets seized increases 145 percent

The number of businesses that have had assets seized by HMRC has more than doubled in the past year, according to a recent study. Read full story


Insolvency practitioner jailed for two years

A former insolvency practitioner has been handed a two-year prison sentence and disqualified from being a director for seven years. Read full story


Leonard Curtis launches legal services division

Professional services provider Leonard Curtis Business Solutions Group (LCBSG) has launched a standalone legal services division. Read full story


Brexit creates “fragile economic climate” for insolvency levels

Next year is forecast to have the weakest performance, in terms of decreasing corporate insolvencies, in advanced markets since 2009. Read full story