The Solicitors Regulation Authority (SRA) is consulting on a proposal that it should take appropriate steps to stop authorising solicitors as insolvency practitioners. This means that solicitors wishing to carry out regulated insolvency activity would need to apply to another suitable regulator for authorisation.

The issues raised in the paper should be of interest to solicitors currently authorised as insolvency practitioners, organisations employing solicitor insolvency practitioners, solicitors or regulated entities thinking about moving into insolvency practice, regulators, and representative and consumer bodies with an interest in the insolvency market.

The deadline for submission of responses to the consultation is 16 January 2015.