Topical Questions

Part of Business, Energy and Industrial Strategy – in the House of Commons on 19th March 2019.

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Photo of Kelly Tolhurst Kelly Tolhurst Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

My hon. Friend is a passionate campaigner in this area and for his constituents, and he knows that I would particularly like to tackle this matter. Insolvency practitioners must adhere to the insolvency code of ethics and must not allow conflicts of interest to override the fundamental principles of objectivity. Breaching the code may result in regulatory action, such as a fine, reprimand or, in the most serious of circumstances, the removal of a licence. The code is currently being updated by the recognised professional bodies that licence insolvency practitioners, but I will continue the dialogue with my hon. Friend on this matter.