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Regulation, consumers and competition

The NAO is the statutory auditor of the publicly funded regulators in the UK, and of the Department for Business, Enterprise and Regulatory Reform and its agencies. We highlight here our work in the regulation sector, our latest reports, articles about specific areas of our work, and work in progress notifications for reports that we are working on at the moment. If you have any comments or suggestions about our work in regulation, please email enquiries@nao.gsi.gov.uk

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Advice, guidance and tools

In addition to formal reports to Parliament, we also produce a range of other outputs from our financial audit and VFM work. Examples include:

Financial Ombudsman Service - Efficient handling of financial services complaints

January 2012

The review took place at a time when the Service was implementing a major change programme to transform and modernise all aspects of its business in the light of recent rapid growth in demand for its services. It is therefore essentially prospective, rather than retrospective, in nature, and has focused on whether the change programme is being delivered in a way that will address the key efficiency challenges facing the Service.

Efficient handling of financial services complaints

Hampton Reviews

2008

In 2004, the Chancellor of the Exchequer asked Philip Hampton, a leading businessman, to lead a review of regulatory inspection and enforcement. Philip Hampton’s 2005 report set out an ambitious programme to reduce the burdens on business created by regulatory systems, together with principles to guide effective inspection and enforcement, putting risk assessment at the heart of regulatory assessment, and intended to encourage a regulatory system which properly balances protection and prosperity.

Read full feature: Hampton Reviews