By Daniel Hunter
A new Regulators’ Code published by Business Minister Michael Fallon today (Thursday) will help shape a new partnership between regulators and the businesses and communities they serve.
Finalised following a consultation with the business community as well as regulators and local authorities, it establishes how non-economic regulators should interact with those they are regulating.
- 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
- ensure clear information, guidance and advice is available to help those they regulate meet their responsibilities
The new code is the latest step in the government’s drive to put businesses’ need for clarity, transparency and minimum bureaucracy at the heart of the regulatory system.
“Regulators’ actions can impact directly upon a business’s ability to succeed. It’s essential that hard-pressed firms are not swamped with unnecessary bureaucracy, but are given pertinent advice and support," Business Minister Michael Fallon said.
“This shorter, clearer Regulators' Code will increase confidence in our regulatory system, helping serve the twin purposes of protection and prosperity.”
There are more than 50 non-economic national regulators with a combined budget of over £2 billion. Better dialogue and less red tape will allow regulators’, including local authorities’, resources to be focused on dealing with non-compliance, as well as providing useful advice and guidance for businesses that need it most.
The new code will also improve transparency around how businesses can appeal regulator's decisions and access data on appeal outcomes, responding to early findings of the Focus on Enforcement Appeals Review.
The code is published following a consultation, ‘Amending the Regulators’ Compliance Code’, which ran from March 8th to May 3rd 2013. Views were sought from stakeholders including businesses, trade bodies, local authorities and national regulators.
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