New regulators’ code addresses old concerns
A new Regulators’ Code of Practice has been published by the Department for Business, Innovation and Skills, replacing the Regulators’ Compliance Code.
Following a consultation with the business community, as well as regulators and local authorities, the Regulators’ Code provides a clear framework for how enforcement authorities should interact with those they regulate.
The Regulators’ Code is designed to address concerns over the Regulators’ Compliance Code, a review of which found that although regulators had largely adopted its principles, its delivery was inconsistent, and it had not changed regulatory culture and practice.
The new code is intended to improve transparency around how businesses can appeal regulators’ decisions and access data on appeal outcomes.
Under the Regulators’ Code, regulators should:
- carry out their activities in a transparent way that helps those they regulate comply and grow;
- design simple and straightforward ways to engage with, and hear the views of, those they regulate;
- base their regulatory activities on risk and share information about compliance and risk; and
- ensure clear information, guidance and advice is available to help those they regulate meet their responsibilities.
The new code will be supported by a range of resources, including guidance, tools, templates, and case studies. It is anticipated that the Code will be brought into statutory force in Spring 2014.
The new code was published following a consultation, ‘Amending the regulators’ compliance code’, which ran from 8 March to 3 May. Views were sought from stakeholders including businesses, trade bodies, local authorities and national regulators. The code can be found at
www.bis.gov.uk/brdo/regulators-code
New regulators’ code addresses old concerns
A new Regulators' Code of Practice has been published by the Department for Business, Innovation and Skills, replacing the Regulators' Compliance Code.
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