consistent with communication policies. KPI 3 Actions DVA applies a Risk management policies – undertaken by proportionate approach to and procedures are The Use of the Word regulators are compliance obligations, available to regulator staff Guidelines are ‘Anzac’ proportionate to the engagement and and the public. reviewed as necessary. regulatory risk being regulatory enforcement Compliance and managed actions. Enforcement strategies enforcement strategies, are documented in the DVA’s preferred consistent with agreed risk Guidelines. approach to regulatory management policies are risk is regularly published. The number of reassessed. Strategies, Documented enforcement activities and enforcement enforcement actions are strategy which allows for actions are amended to tracked. the compliance records of reflect changing priorities regulated entities to be that result from new and considered in determining evolving regulatory regulatory actions. threats, without diminishing regulatory Documented enforcement certainty or impact. strategy includes options for graduated compliance DVA recognises the actions consistent with compliance record of regulators’ powers. regulated entities, including using earned autonomy where this is appropriate. All available and relevant data on compliance, including evidence of relevant external verification is considered.
consistent with communication policies. KPI 3 – Actions undertaken by regulators are proportionate to the regulatory risk being managed DVA applies a proportionate approach to compliance obligations, engagement and regulatory enforcement actions. DVA’s preferred approach to regulatory risk is regularly reassessed. Strategies, activities and enforcement actions are amended to reflect changing priorities that result from new and evolving regulatory threats, without diminishing regulatory certainty or impact. DVA recognises the compliance record of regulated entities, including using earned autonomy where this is appropriate. All available and relevant data on compliance, including evidence of relevant external verification is considered. Risk management policies and procedures are available to regulator staff and the public. Compliance and enforcement strategies, consistent with agreed risk management policies are published. Documented enforcement strategy which allows for the compliance records of regulated entities to be considered in determining regulatory actions. Documented enforcement strategy includes options for graduated compliance actions consistent with regulators’ powers. The Use of the Word ‘Anzac’ Guidelines are reviewed as necessary. Enforcement strategies are documented in the Guidelines. The number of enforcement actions are tracked.