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.

Spring has brought a wave of new beginnings for R3, with a new President in office and planning for our first in-person Annual Conference in three years in full swing.

As we move into the spring season, the news and public affairs agenda continues to be full, with the submission of R3’s response to the Government’s insolvency regulation consultation, the launch of a new paper to tackle insolvency fee misconceptions and a new guide for people in Scotland worried about their finances just some of the areas the Press, Policy and Public Affairs team has worked on this month.

These, coupled with continued work to give the profession a voice on key issues in the media has meant March was a busy month for the Press, Policy and Public Affair’s team.

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...

This year saw the Press, Policy and Public Affairs team continue our Back to Business UK campaign, publish research into the profession’s economic contribution, and continue to give the profession a voice in parliament and the media as the Covid pandemic continued and new legislation was proposed, debated and entered into law. 

With the days getting shorter, temperatures dropping and Christmas fast approaching, the busy winter season is upon us and this November has been no exception for R3’s Press, Policy and Public Affairs team…

This month, the Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill continued its journey through parliament with a Committee Stage debate in the House of Lords.