Regulatory and compliance activities

AFSA’s Insolvency Practitioner Regulatory and Compliance activities.

What we do and how we do it

AFSA conducts is regulatory work in accordance with the Regulatory Framework IGPS1  and each annual Insolvency Practitioner Compliance Program. The following eight (8) core functions support this work.

What we do

How we do it

1. Trustee (RT) and debt agreement administrator (RDAA) registrations

Guidelines and processes for registration of debt agreement administrators IGPS 4

Trustee registered under the Bankruptcy Act 1966 registration application process IGPS 13

2. Inspections

Monitoring and inspection of bankruptcy trustees and debt agreement administrators IGPS11

3. Proactive monitoring

Monitoring and inspection of bankruptcy trustees and debt agreement administrators IGPS11

Monitoring and acting upon misleading or deceptive RDAA advertising IGPG 1

4. Guidance

Personal insolvency Regulator newsletter

Podcasts

AFSA practices and policies

Forums and information sessions

5. Complaints

Complaints handling process for complaints against bankruptcy trustees and debt agreement administrators IGPS 10

6. Inspector-General reviews

Statutory reviews of trustees' decisions under the Bankruptcy Act 1966 by the Inspector-General in Bankruptcy IGPS 12

Assessment by the Inspector-General of a trustee's remuneration approval request IGPS 15

Reviewing remuneration of trustees and costs of third party service providers IGPS 16

7. Disciplinary action

Involuntary cancellation of registration of debt agreement administrators and ineligibility IGPS 9

Involuntary cancellation of trustee registration IGPS 8

8. Investigate and prosecute offences against the Bankruptcy Act 1966

Issuing of infringement notices by the Inspector-General in Bankruptcy IGPS 18

Referring offences against the Bankruptcy Act 1966 to the Inspector-General IGPS 14