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

To ask Her Majesty's Government what consultation they have undertaken (1) within, and (2) without, the insolvency industry that has suggested the Insolvency Service as a suitable candidate to be a Single Regulator of the Insolvency Industry; and whether they will puliish that evidence.

The Government is consulting on proposals to reform, strengthen and modernise the insolvency practitioner regulatory framework.

The Government previously consulted through a call for evidence on whether there should be a different regulatory framework, including a greater role for Government. Since then further discussions have been held with stakeholders to help develop proposals for consultation.

The consultation and its associated impact assessment were published on 21 December 2021 and will close on 25 March. During the consultation period, the Government will continue to engage directly with key stakeholders and welcomes responses from all interested parties on the proposals, including suggestions on how they could be improved and on their likely impact.