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.
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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.