IPC closes
A final letter was sent to insolvency regulators and others with whom the IPC has dealt over the past 11 years on 10 March 2012.
IPC to be folded
The Government’s intention is for the Secretary of State to withdraw from direct authorisation, reform the powers of the SoS as oversight regulator to make them more wide ranging, and introduce regulatory objectives to the regime. This will be dependent on finding Parliamentary time. This, coupled with the intoduction of creditor representation on the Joint …
Response to Debt Management Consultation
OFT DEBT MANAGEMENT GUIDANCE (AND CREDIT REPAIR SERVICES) CONSULTATION Chapter 1 – Introduction Q.6 As the public interest body tasked with reviewing whether the professional and ethical standards of insolvency practitioners (IPs) are appropriate and whether or not they are satisfactorily enforced by the Recognised Professional Bodies (RPBs) that regulate them, we feel that it …
2010 Annual Report
Sadly this was the last report under Geoffrey Fitchew’s chairmanship as he died suddenly on 20 April, five days after the report was published. Hard copies of the report are available on request from the IPC Secretary.
IPC Chairman dies
Geoffrey will be sadly missed by his colleagues on the IPC and his many friends. He made a major contribution to putting the public interest view about the professional standards and ethics of Insolvency Practitioners since taking over as Chairman. He regularly attended IVA Standing Committee meetings and pushed successfully for more and better statistics …
Consultation on reforming the regulation of IPs
CONSULTATION ON REFORMING THE REGULATORY FRAMEWORK FOR INSOLVENCY PRACTITIONERS – THE RESPONSE OF THE INSOLVENCY PRACTICES COUNCIL Chapter 1: General Information Q.1 Do you have any comments or evidence on the costs and benefits set out in the attached Impact Assessment (Annex B)? Yes; we have comments on both the estimated benefits and the costs …
Managing Borrowing and Dealing with Debt
The IPC in its response re-stated that it is a public interest body set up in 1999 by the insolvency regulators and the Insolvency Service to keep under review and, where it thinks necessary, make recommendations on the ethics and professional standards of IPs and their enforcement. It was also pointed out that the IPC’s …
Ten Years of the Insolvency Practices Council
Introduction 2010 marked the tenth anniversary of the IPC’s formation. It grew in status during the period and, according to one of its lay members it now “punches above its weight”. It has, as is required by its remit, expressed an opinion about aspects of the insolvency profession in the public interest. It has made …
Consultation on reforms to the regulation of IPs
The future of the IPC is put in question as it is proposed that its role would be subsumed by a new “supervisory regulator”. Although the IPC’s achievements over the past 11 years are acknowledged in the document, the IS and BIS Ministers see “no substantive role for the IPC going forward”. However, the introduction …
Consultation on reforms to the regulation of IPs Read More »
OFT market study into corporate insolvency
The IPC was invited to a meeting on 18 November 2009 to discuss the study which aims to look at the structure of the market, the appointment process for IPs and any features in the market which could result in harm, such as higher fees or lower recovery ratesfor certain groups of creditors. The IPC …