In its second Annual Review of Insolvency Practitioner Regulation, it revealed that 115 complaints were made to the Insolvency Service regarding a lack of communication, 80 were made regarding breaches of ethical guidance and 82 were made regarding the sale of assets.
Of the 1,331 authorised insolvency practitioners in the UK, 84 were subject to sanctions in 2009. The Insolvency Service carried out 410 monitoring visits last year, compared to 293 in 2008.
The findings add weight to the suggestions that SIP 16 guidelines could become law as the government reacts to criticism of the Insolvency Service.
Insolvency practitioners prompt more than 600 complaints
The Insolvency Service received more than 600 complaints about insolvency practitioners in 2009.
