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| Expert welcomes single insolvency body proposal |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Wednesday, 30 June 2010 00:00 |
 An expert has welcomed the potential creation of a single body to handle business insolvency complaints as a positive step. Last week (June 25th), the Office of Fair Trading (OFT) released a report in which it recommended extensive reforms of the current corporate insolvency regulatory regime. Measures suggested included streamlining the present way in which the regulatory decision-making process is handled, providing performance-related objectives for the regime and repositioning the insolvency service as the dedicated oversight regulator of the recognised professional bodies. These policies, along with the establishment of an industry-funded body to handle complaints through its broad powers of review over insolvency practitioners' actions and fees, would significantly improve the current system, according Nick Keith of the Business Debtline. Mr Keith indicated that there are now several bodies that an insolvency practitioner can be part of, but having just one available would make it "clearer and easier for consumers to direct their complaint". Posted by James Strang 
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