The Inspector-General in Bankruptcy has introduced a new tier ranking system which informs and directs their application of resources in regulating private Trustees. Whilst understandable as a potentially effective management tool, it is unfortunate that the assessment process was not the subject of any significant consultation with the roughly 250 private trustees before being implemented.

Published criteria and a set of compliance standards, based on such tiers, should have been communicated to all Trustees in order to avoid causing confusion and anguish amongst the people being regulated. Ironically, the administrative law values of transparency and accountability, whilst embedded in various public APS statements, seem to be cast aside in the rush to be seen to be an active regulator. My suggestion would be a pause, with a consultation phase leading to industry engagement, leading to an industry commitment to a common purpose as the preferred path. We shall wait and see what actually occurs.