Government Launches a Consultation on Regulation and Fees for Insolvency Practitioners
28 February 2014
Practice Area: Insolvency and Restructuring
The Government has launched a consultation on both regulation and fees for insolvency practitioners. On a regulatory basis, the aim is to follow legal/auditors' regulatory frameworks, to set a series of new regulatory objectives for IPs to bear in mind and to introduce a single independent regulator.
In terms of fees, the aim is to prevent IPs charging on a time-cost basis unless certain criteria are fulfilled and to increase engagement from the creditors/regulator to ensure fairness in fees.
The consultation closes on 28th March - IPs, make sure your voice is heard.
You can find read and download the consultation here.