In this blog, we look at the progress of the Economic Crime and Corporate Transparency Bill to date, the further reforms we would like to see and the consequences of the loopholes currently open to fraudsters not being closed.

2022 was a monumental year for R3’s Press, Policy and Public Affairs Team, with work on three high-profile issues: regulatory reform, reforms to Companies House, and a call for evidence on the personal insolvency framework

In May more than 300 members of the insolvency and restructuring profession descended on the Beaumont Estate in Windsor for R3’s first face-to-face Annual Conference since 2019.

In late December 2021, the Government issued a consultation into insolvency reforms. In this blog, we summarise the 26-page consultation response we submitted in response, highlighting our main questions and concerns.

To help tackle the most common misconceptions about insolvency fees, R3’s Press, Policy and Public Affairs team has published new research which aims to address how the fees are broken down, the typical costs involved in an insolvency procedure, and how the costs reported in an insolvency case often bear little resemblance to the amount insolvency practitioners (IPs) are actually paid for the work they undertake in these cases.

Companies House, the central register of company information in the UK, is a crucial component of the UK’s corporate governance framework, but doesn’t yet have formal investigatory powers to verify the accuracy of information that companies send to it.

The Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act, which received Royal Assent in December 2021 gives the Insolvency Service a significant new power to investigate former directors of dissolved companies where it believes these directors are responsible for wrongdoing.

On 21 December 2021, the Government published ‘The Future of Insolvency Regulation’, a consultation setting out new proposals to “strengthen, reform and simplify” insolvency regulation. The proposed changes in the consultation document amount to an overhaul of insolvency regulation and will have a significant impact on the insolvency profession and how it works.

Here's everything you need to know about the proposed regulation changes...