Regulators' Code - Section 5: National Regulators

Regulators should ensure clear information, guidance and advice is available to help those they regulate meet their responsibilities to comply

Regulators should provide advice and guidance that is focused on assisting those they regulate to understand and meet their responsibilities. When providing advice and guidance, legal requirements should be distinguished from suggested good practice and the impact of the advice or guidance should be considered so that it does not impose unnecessary burdens in itself.

Regulators should publish guidance, and information in a clear, accessible, concise format, using media appropriate to the target audience and written in plain language for the audience.

Regulators should have mechanisms in place to consult those they regulate in relation to the guidance they produce to ensure that it meets their needs.

Regulators should seek to create an environment in which those they regulate have confidence in the advice they receive and feel able to seek advice without fear of triggering enforcement action.

In responding to requests for advice, a regulator’s primary concerns should be to provide the advice necessary to support compliance, and to ensure that the advice can be relied on.

Regulators should have mechanisms to work collaboratively to assist those regulated by more than one regulator. Regulators should consider advice provided by other regulators and, where there is disagreement about the advice provided, this should be discussed with the other regulator to reach agreement.

Core Learning Resources

 Better Business for All

BRDO

In particular, see:

  • Business Regulation Made Simple, 2014

 The Good Guidance Guide: Taking the Uncertainty out of Regulation

Anderson Review / BIS, 2009 (archived)

Further Reading

 Primary Authority: a guide for national regulators

Regulatory Delivery