Department for Business, Energy and Industrial Strategy written question – answered at on 2 November 2021.
To ask Her Majesty's Government how are ombudsmen used by those responsible for regulating insolvency practitioners (1) selected, (2) appointed, and (3) remunerated.
The four recognised professional bodies (RPBs) responsible for the regulation of Insolvency Practitioners do not engage ombudsmen in their oversight systems. However, each RPB has independent committees that oversee regulatory decisions. In order to maintain independence, the committees require an equal or majority lay membership. Further, each of the RPB’s complaints processes includes potential referral of a complaint to an independent reviewer of complaints. The reviewers of complaints are lawyers who work independently and consider an RPB’s decision where it has determined there is no case to answer.
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