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Advancing the credit profession

Consultation Responses for 2019


The Insolvency Service – Regulation of IPs and review of current regulatory landscape – closes 4 October 2019

The Insolvency Service published a Call for Evidence seeking evidence that will help inform the government on whether changes are necessary to the current regulatory framework for Insolvency Practitioners (IPs) in the UK, including whether to consult on the use of existing legislative powers to create a single regulator for IPs.

Read the consultation, read the Institute’s response.


Financial Conduct Authority – Overdraft Pricing Remedies and Competition Remedies – closed 7 August 2019

The Financial Conduct Authority published a consultation which proposed that firms publish more details about their overdraft charges. The proposals aim to improve transparency and raise awareness of firms’ charging structures, which will encourage competition for overdrafts and support the protection of consumers. The FCA also published a Policy Statement alongside the consultation.

Read the consultation, read the Institute’s response.


Department for Business, Energy & Industrial Strategy (BEIS) – Corporate Transparency & Register Reform – closed 5 August 2019

The Department for Business, Energy & Industrial Strategy (BEIS) published a consultation which proposed a substantial package of reforms to Companies House. The reforms aim to contribute to efforts to tackle economic crime by increasing the traceability of company ownership and management while offering business owners and businesses greater protection from fraud.

Read the consultation, read the Institute’s response.

HM Treasury – Transposition of the fifth Money Laundering  Directive – closed 10 June 2019

HM Treasury has published a consultation which focuses on the steps government are looking to take to meet the UK’s obligation to transpose the fifth money laundering directive into national law, and the potential costs and benefits of the changes.

Read the consultation, read the Institute’s response.

Payment System Regulator – Confirmation of Payee – closed 5 June 2019

The Payment Systems Regulator has published a consultation which re-introduces Confirmation of Payee (CoP), a name-checking service identified as an important tool to help prevent authorised push payment scams and accidentally misdirected payments. The paper addresses some previous concerns around implementation of the service and its scope and design, and also the impact it could have on payment service providers.

Read the consultation, and read the Institute’s response

HMRC – ‘Protecting your taxes in insolvency’ – closed 27 May 2019

For all formal insolvencies that commence after 6 April 2020, it is proposed that HMRC will become a secondary preferential creditor for certain tax debts paid by employees and customers. As such, HMRC will move up the creditor hierarchy for the distribution of assets with respect to these taxes held by any insolvent entity.

Read the consultation, and read the Institute’s response.

Civil Procedure Rule Committee – Enforcement of possession orders – closed 2 May 2019

The Civil Procedure Rule Committee published a consultation ‘Enforcement of possession orders and alignment of procedures in the County Court and High Court’. The paper set out proposals to align the processes between the Courts with particular consideration given to providing guidance to claimants and the judiciary as to the operation of the procedures. 

Questions in the paper focus on trespassers, differing possession claims, enforcement process in both Courts (including transfers), and the application for a Warrant or Writ.

Read the consultation, and read the Institute’s response.

Ministry of Justice – Review of the 2014 Enforcement Agent reforms – closed 17 February 2019

The Tribunals, Courts and Enforcement Act 2007 introduced in 2014 provided a package of reforms aimed at providing protection to debtors from the aggressive pursuit of enforcement agents, whilst balancing this against the need for effective enforcement and the rights of creditors.

The Ministry of Justice published a call for evidence to allow feedback on the current perception of agents and their work, and inform a second review of the reforms, the first review having taken place in 2015. It sought comment from those working with the regulations, such as agents themselves, their trade bodies, debt advice organisations, creditors and the judiciary.

Read the call for evidence and the Institute’s response.


HM Treasury – Breathing Space – closed 29 January 2019

HM Treasury issued a consultation ‘Breathing space scheme: consultation on a policy proposal’ which sought views in order to further refine the design of the breathing space scheme in England and Wales. It proposed eligibility criteria for entering the protections of the scheme, described the detail of the protections it would afford, and the administration involved.

Read the consultation and the Institute’s response. Read the Government’s response to its policy proposal, published on 19 June 2019.


The Financial Conduct Authority – HCCR Publication: Rent-to-Own and Alternatives to High-Cost Credit – closed 17 January 2019

The FCA  published a proposal for a cap on rent-to-own (RTO) prices, and an update on its work to foster the growth of alternatives to high-cost credit. The proposals  also covered  implementing a point-of-sale ban on sales of extended warranties to RTO customers.  

Read the consultation and the Institute’s response.