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EG 13.1 1Introduction

EG 13.1.1RP

1This chapter explains the FCA's policies on how it uses its powers under the Act to apply to the court for orders under existing insolvency legislation and exercise its rights under the Act to be involved in proceedings under that legislation. The FCA's effective use of its powers and rights in insolvency proceedings helps it pursue its statutory objectives, including its operational objectives of securing an appropriate degree of protection for consumers, protecting and enhancing the integrity of the UK financial system, and promoting effective competition in the interests of consumers by, amongst other matters, enabling it to apply to court for action to:

  1. (1)

    stop firms and unauthorised persons carrying on insolvent or unlawful business; and

  2. (2)

    ensure the orderly realisation and distribution of their assets.