July was a busy and engaging month for R3’s Policy and Public Affairs team, with activity focused on stakeholder engagement, regulatory discussions and representing the profession across a range of external forums.
It also brought significant political developments, with the appointment of a new Prime Minister and a subsequent ministerial reshuffle. Of particular relevance to the profession, Jonathan Reynolds returned as Secretary of State for Business, Innovation, Science and Trade, while Blair McDougall retained portfolio responsibility for insolvency. The team has been monitoring developments closely, analysing the potential implications for insolvency and restructuring policy and seeking greater clarity on ministerial priorities for the months ahead. We are also looking to secure engagement with Ministers following the summer recess to discuss the profession’s priorities and areas where R3 can support the government’s wider economic agenda.
A key area of work this month was engagement with StepChange, Citizens Advice and the Money Advice Trust to discuss developments in the personal insolvency landscape. The meeting provided an opportunity to exchange views on the challenges facing individuals in financial difficulty and the ongoing personal insolvency framework review. These conversations are an important part of R3’s commitment to ensuring that personal insolvency policy is informed by a broad range of perspectives and experiences.
The team also met with the Insolvency Practitioners Association (IPA) to discuss developments in the regulatory environment and issues affecting the profession. The discussion explored current and future regulatory priorities, areas of common interest and opportunities for continued engagement. Maintaining an open dialogue with regulators remains a key part of R3’s work to ensure members’ experiences and concerns are understood as policy and regulatory frameworks evolve.
July also saw R3 represented in Parliament, where the team accompanied R3 President Sonia Jordan to a panel event bringing together policymakers, stakeholders and industry representatives. The event provided an opportunity to highlight the value of the restructuring and insolvency profession, and reinforce the important role practitioners play in supporting economic resilience and recovery.
Alongside this, the team attended the ICAEW Restructuring & Insolvency Community Advisory Group meeting. The discussion covered developments affecting the restructuring and insolvency sector, providing a valuable opportunity to share insights, identify emerging issues and strengthen relationships across the wider professional community. Engagement through forums such as these helps ensure R3 remains connected to developments across the profession and can continue to contribute effectively to policy discussions.
Together, these activities reflect R3’s continued commitment to collaboration, evidence-based policy and constructive engagement with stakeholders across the insolvency and restructuring landscape.
