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Regulation & Compliance > Regulatory

Insolvency fees to be shown upfront

Insolvency practitioners will have to provide upfront estimates of the cost of working on insolvency cases, under new rules announced today. Read full story

R3 announces 2015 election insolvency reform measures

Insolvency trade body R3 has called on the winning party of the 2015 general election to reform the current insolvency regime to provide a better deal for small businesses, taxpayers, and indebted individuals. Read full story

RBS fined £14.5m for mortgage advice failings

The Royal Bank of Scotland (RBS) and NatWest have been fined £14.5m by the Financial Conduct Authority (FCA) for “serious failings in their advised mortgage sales business”. Read full story

Cable takes Comet administrators to task

Business Secretary Vince Cable has announced the administrators of collapsed electrical retailer Comet have been referred to the Institute of Chartered Accountants in England and Wales (ICAEW). Read full story

Wonga slammed by FCA redress order

Online lender Wonga has been ordered to repay £2.6m to customers by the Financial Conduct Authority for “unfair and misleading debt collection practices”. Read full story

Business minister announces IP regulation response

Business minister Jenny Willott has announced a series of measures to strengthen regulation of the insolvency profession, in response to a Government consultation. Read full story

New director disqualification crackdown proposals

Business Secretary Vince Cable has announced new measures to tackle rogue directors and improve business transparency. Read full story

IPs largely excluded from FCA regulation

Insolvency practitioners have been excluded from Financial Conduct Authority regulation in “specific circumstances”. Read full story

FCA sets out annual funding requirement of £446m

The Financial Conduct Authority (FCA) has proposed an increased annual funding requirement of £446.4m for 2014-15. Read full story

R3 steps up partial licence opposition

Insolvency trade body R3 has today (25 February) increased its opposition to the Government’s proposal to offer a partial licence system for insolvency practitioners. Read full story

Cross border insolvency proposals approved

The European Commission’s proposals to extend cross-border insolvencies to rescue proceedings has received backing from the European Parliament today (5 February), with 580 votes in support. Read full story

Law Society criticises EU insolvency rule changes

The European parliament’s changes to EU insolvency rules would ‘contradict the objective of rescue,’ the president of the Law Society of England and Wales has claimed. Read full story

R3 criticises partial IP license proposals

Insolvency trade body R3 has slammed the government’s decision to include proposals for partial insolvency practitioner (IP) licenses in its Deregulation Bill.

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New Scottish regulations address dire creditor returns

The Scottish Government is to introduce new regulations aimed at improving creditor returns, following the publication of statistics showing zero dividends paid following a high number of personal insolvencies. Read full story

Insolvency Rules “simplification” announced

The Insolvency Service has today (26 September) released a consultation document detailing a set of proposals aimed at “simplifying and reordering” existing Insolvency Rules. Read full story

RBS fined £5.6m by FCA

The Royal Bank of Scotland (RBS) has been fined £5,620,300 by the Financial Conduct Authority (FCA) for incorrectly reporting transactions made in wholesale markets. Read full story

Bankrupt bank account changes proposed

A proposal to change insolvency law allowing bankrupts to open bank accounts in England and Wales has been put before Parliament. Read full story

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

Insolvency Service launches single complaints gateway

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