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Regulation & Compliance


Insolvency Service launches ‘red tape’ consultancy paper

The Insolvency Service has announced the launch of a consultation document designed to “cut needless processes during insolvency proceedings.” Read full story


Directors to face new scrutiny

“Reckless” or “negligent” directors are to face the prospect of personal liability and disqualification from acting as company directors, under new proposals from business secretary Vince Cable. Read full story


Banks adopt “retry system” to stop charges incurred on payments

The new regulator has secured a commitment from seven high street banks to use a “retry system” to avoid penalty charges when processing direct debits and standing orders. Read full story


Insolvency Service launches single complaints gateway

The Insolvency Service has today launched its new single gateway for complaints against insolvency practitioners. Read full story


New president for insolvency body

Liz Bingham has taken over from Lee Manning as president of insolvency trade body R3. Read full story


FCA outlines regulatory terms

The Financial Conduct Authority (FCA) has today published its paper disclosing how it will investigate and report on regulatory failure. Read full story


Amos leaves consumer credit role at regulator

The Financial Conduct Authority (FCA) is looking for a new head of consumer credit as Will Amos takes another role at the regulator. Read full story


Insolvency Service hires board members

The Insolvency Service has made three appointments to its board as it introduces a new board structure. Read full story


FCA product intervention to be used in “serious” cases

The Financial Conduct Authority (FCA) will use temporary product intervention rules (TPIRs) in cases where a product is in “serious danger” of being mis-sold. Read full story


FSA unveils business plan for new regime

The Financial Services Authority (FSA) has set out its business plan for the new regulatory regime and promised that there will be “no room for the poor behaviour of the past”. Read full story


Pre-pack review scheduled for 'late spring'

An independent review of the process of ‘pre-pack’ administrations is to be conducted by the government. Read full story


Man imprisoned for insider dealing

A 43-year old man has been sentenced to four years in prison, having been found guilty of insider dealing at Southwark Crown Court. Read full story


FSA releases consultation on regulation

The Financial Services Authority (FSA) has published its consultation on how it plans to introduce a “strong” and “flexible” regime to regulate consumer credit. Read full story


FSA slaps Lloyds with £4.3m PPI fine

Lloyds Banking Group has been hit with a £4.3m fine by the regulator for delayed payment protection insurance (PPI) redress payments to up to 140,000 customers. Read full story


Insolvency Inquiry: Tougher sanctions for prepacks

The process for handling pre-pack administrations is still insufficiently transparent and requires higher levels of compliance, according to the Business, Innovation and Skills (BIS) Select Committee. Read full story


Report finds Insolvency Service lacks resources

The Business, Innovation and Skills (BIS) Committee has recommended that the Insolvency Service receives additional funding after it found that the regime remains under resourced. Read full story


Money Partners linked to mis-selling at mortgage group

FSA has published further details on its decision to fine the director of a failed mortgage brokerage. Read full story


Banking reforms to face scrutiny

An influential commission of MPs has announced when it will scrutinise planned change to the nation’s banking system. Read full story


MF Global triggers FSA consultation

MF Global’s demise, coupled with the insolvency of spreadbetting firm Worldspreads and Pritchard stockbrokers has triggered an FSA consultation. Read full story


VIEWPOINT: Auctions

When an insolvency practitioner is unable to sell the assets and goodwill/intellectual property rights of a business as a package for an acceptable price, they normally enlist the assistance of an agent to realise the assets. There are a number of issues to consider Read full story