Guidance

Insolvency Service as oversight regulator of the insolvency profession

The Insolvency Service acts as the oversight regulator in Great Britain for the Recognised Professional Bodies (RPBs) that authorise and regulate insolvency practitioners.

• From: The Insolvency Service
• Published: 17 February 2017

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Insolvency Service as oversight regulator of the insolvency profession: in detail.

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Introduction

The Insolvency Service acts on behalf of the Secretary of State as the oversight regulator in Great Britain for the Recognised Professional Bodies (RPBs) that authorise and regulate insolvency practitioners. The Insolvency Service’s approach to oversight regulation reflects the regulatory objectives set out in the Insolvency Act 1986 and the Regulators’ Code.

Oversight regulation is devolved in Northern Ireland and is undertaken by the Department for the Economy (DfE). To minimise burdens, monitoring activities are generally undertaken in collaboration with DfE.

Published 17 February 2017