Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government what independent documented evidence they have that the current (1) structure, and (2) model, for insolvency regulation is failing to deliver (a) consistent outcomes, (b) robust outcomes, and (c) the breadth of regulation required for an effective modern regulatory regime.

The Government is consulting on proposals to reform, strengthen and modernise the insolvency practitioner regulatory framework. These proposals arise from a call for evidence conducted previously and other evidence collected by the Insolvency Service in its role as oversight regulator on behalf of the Secretary of State. The consultation document, along with the associated impact assessment which were published on 21 December 2021, summarise the evidence used (including the responses to the call for evidence) to draw up the proposals for reform.

The consultation closes on 25 March.