Regulators’ Compliance Code Cuts Red Tape

The Government’s introduction of a new code of practice yesterday should make life easier for business and the regulators that work with them. The new Regulators’ Compliance Code, introduced yesterday, has been designed to save businesses time and money by improving the way iregulators work with them. The new code requires regulators to take a risk-based approach, allowing compliant businesses to cut red tape. Compliant businesses face fewer inspections and less regulatory burden whilst businesses that face a higher risk of not complying with regulation will be subject to more rigorous inspections. The result of this will mean businesses will receive better advice on how to comply with the law whilst they can expect a reduction in unnecessary inspections and paperwork. The Regu... »