Lamb launches financial regulation consultation

Care minister Norman Lamb has released details of government plans to regulate the financial affairs of larger care providers in order to protect service users in the event of provider failure (CCMn November 2012). The 12-week consultation will examine how the government could keep an eye of the finances of providers and step-in if an operator collapsed or suffered financial difficulties. The consultation is a reaction to the uncertainty following the collapse of Southern Cross (CCMn July 2011), which left residents in its homes unsure of whether they could be rendered homeless.