Consultation outcome

Bonding arrangements for insolvency practitioners: Call for evidence

This consultation has concluded

Download the full outcome

Summary of responses to call for evidence on bonding arragements for Insolvency Practitioners

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Detail of outcome

Feedback received

Responses to the Call for evidence on Bonding

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Detail of feedback received

Responses to consultation

Original consultation

Summary

This call for evidence will principally be of interest to the insolvency industry, including insolvency practitioners and their staff, Recognised Professional Bodies, current and prospective bond providers and brokers, compliance agents, and those involved in insolvency proceedings, in particular creditors. We would welcome responses from any member of these groups or from any other field.

This consultation ran from
to

Consultation description

Insolvency practitioners are required by law to take out a bond to provide appropriate levels of security to cover any losses as a result of fraud or dishonesty on their part. Stakeholder have told us that the current arrangements are inflexible and prescriptive and fail to protect creditors.

The call for evidence will help the Government to decide whether it should propose changes to the legislation governing bonding arrangements.

The call for evidence considers:

  • how the current bonding system works
  • the weaknesses with the current bonding system
  • what similar system operates in other professions
  • potential non-legislative and regulatory changes
  • potential options for legislative change

Documents

Bonding arrangements for insolvency practitioners: Call for evidence

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email publications@insolvency.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Published 15 September 2016
Last updated 12 September 2017 + show all updates
  1. Responses to the Call for evidence on Bonding have been published.
  2. Summary of responses published
  3. Closing date for responses extended.
  4. First published.