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| Annual Report 2007 Recommendations Complaints handling by the Insolvency Service and the Regulators The Research report reviews both the way in which the RPBs regulate and monitor the complaints handling systems of IPs and the operation of the RPBs and the IS’s own disciplinary systems. As regards the latter we may want to make further recommendations later this year when we have received the comparison of the RPBs’ disciplinary systems with those of other professions which we are commissioning. We note that the IS’s own disciplinary system, covering the IPs it licenses directly, is inflexible in that the only sanction available to it is the removal of the IP’s licence. This is clearly unsatisfactory, but is also linked to the wider question of whether the IS should continue to license IPs directly. As regards the regulation and monitoring of IPs’ complaints systems, it appears from the report and our further discussions that the regulators do not systematically require IPs to keep centralised records of the complaints dealt with through their in-house-procedures. We believe that this information would be useful both to the firms themselves for management purposes and to the regulators. We recommend that: • All the regulators should require their IPs and the firms they work in to maintain a centralised record of the numbers and main types of complaint dealt with and of the outcomes. These should be reported annually in aggregate terms to the RPBs as information likely to be useful to the monitors. |
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