Effective inspection and enforcement: implementing the Hampton vision in the Health and Safety Executive
1 Mar 2008
“My report in 2002 into Opra detailed a number of failings, so to be able to report good progress by its successor in establishing new regulatory arrangements is very welcome.
“The Pensions Regulator has successfully put in place a framework to identify and address the key issues and risks to private sector final salary pension scheme members. Central to that has been the strategy of addressing the areas of greatest risk. The next step for the Regulator is to continue its push to roll out the same level of regulatory oversight to money purchase schemes as it has for final salary schemes.”
In March 2007 we were invited by the House of Lords Select Committee on Regulators to review the way that impact assessment is performed by five regulators: Ofcom; Ofgem; Ofwat; Postcomm; and the Office of Rail Regulation (ORR).
“There is no certainty that the Administrative Burdens Reduction Programme will deliver its intended objectives. For regulatory reform to succeed, departments must understand business and measure and communicate results. So far, they have made a pragmatic start. Businesses, however, are not convinced that the programme will make a real difference to them. I will revisit this to check on progress.”
“Impact Assessments should be at the heart of the policy making process, but they have not always being used effectively. They need to add to the substance and effectiveness of the policy making process, not be viewed as a box to tick”
“The FSA has done well in managing the merger from 11 regulatory bodies to become one of the world’s first unified financial services regulators. In doing so, it has created strong and effective structures.
“But the challenge for the FSA is now to move to the next level. It must do more to demonstrate its impact; to get a clearer understanding of how much its different activities cost; and, crucially, to streamline its processes and advice, to benefit industry and consumers.”