1. Overview
The Insolvency Service is an executive agency of the Department for Business and Trade (DBT) and helps deliver economic confidence by supporting those in financial distress, tackling financial wrongdoing and maximising returns to creditors.
Acting as oversight regulator of Insolvency Practitioners (IPs) on behalf of the Secretary of State for DBT, the Insolvency Service works with the insolvency profession ensuring that professional and regulatory standards are maintained or improved where necessary, and that professional misconduct is addressed.
The Secretary of State, by Order, recognises independent professional bodies, known as the Recognised Professional Bodies (RPBs) for the purpose of authorising individuals to…