Guidance and information for local authorities and national regulators.
The statutory Regulators’ Code provides a clear, flexible and principles-based framework for how regulators should engage with those they regulate. Nearly all non-economic regulators, including local authorities and fire and rescue authorities, must have regard to it when developing policies and procedures that guide their regulatory activities.
The statutory growth duty requires regulators to have regard to the desirability of promoting economic growth, alongside the delivery of protections set out in relevant legislation. It applies to most national regulators but not local authorities nor fire and rescue authorities. This guidance clarifies how regulators can work in accordance with the growth duty.
Aspects of effective regulatory systems are outlined in the following presentation. They include allocating finite resources on the basis of risks, using appropriate tools to reduce the risks targeted, and achieving clear outcomes.
The first independent report below explores the issue of information sharing by regulators, while the second summarises the current evidence that supports how regulators should seek to affect the market behaviour of traders.
Further materials concerned with local and national regulation are available for reference in the following collection.