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Regulation & Compliance

Supply of utilities to insolvent businesses secured

Business Minister Jo Swinson has announced the Government will ensure businesses undergoing rescue continue to be supplied with IT, telecoms and utilities services during restructuring. Read full story

End of insolvency litigation exemption challenged

The proposed end of insolvency litigation’s exemption from the Legal Aid, Sentencing, and Punishment of Offenders Act (LAPSO) has been challenged by an Early Day Motion tabled in Parliament. 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

Insolvency Service reports on first year of Complaints Gateway

The Insolvency Service has today (22 August) announced the first year results of its Complaints Gateway, launched in June last year. Read full story

Liquidators to investigate insolvent investment funds

Liquidators have been appointed to investigate the circumstances of the collapse of the Mission Germany Capital Cities Fund and the Mission Tuscany Fund in 2013. 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

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

Creditors could lose out on £150m a year

Insolvency trade body R3 has warned that ending insolvency litigation from the ‘Jackson’ legal aid reforms could cost creditors over £150m a year. 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

Landmark decision on GAME draws near

A landmark case due to start this week in the Court of Appeal could have far-reaching implications for both the insolvency and property industries. 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

Applications invited for JIEB Senior Moderator position

The Joint Insolvency Examination Board (JIEB), which oversees the examination process for all those seeking to obtain the licensed insolvency practitioner qualification in England, Wales and Scotland, is seeking a Senior Moderator. Read full story

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

IPA announces new corporate insolvency exam

The Insolvency Practitioners Association (IPA) has today (6 August) unveiled a new corporate insolvency exam. Read full story