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| Annual Report 2007 Recommendations Complaints Handling by IPs and their Regulators The IPC commissioned research on Complaints Handling in the Insolvency Profession which was undertaken by Professors Adrian Walters and Mary Seneviratne of Nottingham Trent University (NTU). The research report which was published in January 2008 and is on the NTU website describes and comments on the arrangements for handling complaints in a sample of ten IP firms, the approach adopted by the Insolvency Service and the insolvency regulators to regulating and monitoring the complaints systems in IP firms and the disciplinary systems operated by each of the regulators for hearing complaints against the IPs they have licensed. We have subsequently discussed the report’s findings with the IS, the Joint Insolvency Committee (which represents all the regulators), the OFT, the Financial Ombudsman Service and with other stakeholders. We plan to complete our research by commissioning a comparison of the disciplinary and complaints systems of the regulators of IPs with those of a selection of the regulators of other professions, including the provision of financial and other redress. In the longer term, we will want to consider the case for a harmonised disciplinary and complaints system for IPs together with a harmonised approach to the monitoring and investigations work on which the disciplinary systems depend. |
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