Regulators Compliance Code
Regulators should consider the Code when writing policies, setting standards or giving guidance about their duties.
The Code was drafted in response to the Hampton Review of the UK’s regulatory system which proposed a risk-based approach.
It asks regulators to consider:
Supporting economic progress
Performing regulatory duties should not impede business productivity.
Risk assessment
Undertaking a risk assessment of all their activities.
Information and advice
Providing information and advice in a way that enables businesses to clearly understand what is required by law.
Inspections
Only carrying out inspections following a risk assessment, so resources are focused on those least likely to comply.
Data requirements
Working with other regulators to share data and minimise demand on businesses.
Compliance and enforcement actions
How formal enforcement actions, including sanctions and penalties, should be applied following the Macrory principles on penalties.
Accountability
Increasing the transparency of regulatory organisations by asking them to report on outcomes, costs and perceptions of their enforcement approach.
By ensuring that regulators review their policies, the Government expects the Code to help deliver a risk-based approach to regulators' work. High-performing, compliant businesses will bear less of a burden, with regulators focusing their efforts on higher-risk businesses.
Download the Regulator's Statutory Code of Practice for Regulators (PDF 106KB) from the Department for Business Enterprise & Regulatory Reform (BERR) website.