Self-assessment for suggested elements of good regulatory practice Outline how current regulatory practices Highlight areas for Good regulatory practice minimum standards compare to standards, improvement between (highvolume/highimpact regulators should including evidence standards and current also include best practice characteristics) where possible practice 1. Role clarity 1a. Regulator has in place a monitoring and assurance regime to ensure their regulatory objectives are being met. 1b. is a clearly understood and documented chain of accountability and communication between departments/agencies and their regulators. 1c. Formal instruments clarify regulator roles where there are shared accountabilities and promote coordination between regulators (for example, memorandums of understanding, formal agreements or contracts for service provision). 2. Cooperation amongst regulators 2a. Regulators come together to identify good practice and share lessons. 2b. Regulator has considered and explored ways to facilitate data sharing. 2c. Regulator performance is benchmarked. 3. Stakeholder consultation and engagement 3a. Forms, data requests and other administrative and compliance processes are regularly reviewed with feedback sought from stakeholders (for example, forms include a short feedback section with suggestions for improvement). 3b. Regulator provides feedback on the outcome of consultation exercises to those who took part. 3c. Regulator understands the changing needs of business and the community throughout the regulatory cycle. 4. Accountability and transparency 4a. Regulator is transparent about how they administer and enforce regulation (for example, transparent complaints and disputes mechanisms and transparency about the reasons for enforcement decisions).
Self-assessment for suggested elements of good regulatory practice Good regulatory practice minimum standards (highvolume/highimpact regulators should also include best practice characteristics) Outline how current regulatory practices compare to standards, including evidence where possible Highlight areas for improvement between standards and current practice 1. Role clarity 1a. Regulator has in place a monitoring and assurance regime to ensure their regulatory objectives are being met. 1b. is a clearly understood and documented chain of accountability and communication between departments/agencies and their regulators. 1c. Formal instruments clarify regulator roles where there are shared accountabilities and promote coordination between regulators (for example, memorandums of understanding, formal agreements or contracts for service provision). 2. Cooperation amongst regulators 2a. Regulators come together to identify good practice and share lessons. 2b. Regulator has considered and explored ways to facilitate data sharing. 2c. Regulator performance is benchmarked. 3. Stakeholder consultation and engagement 3a. Forms, data requests and other administrative and compliance processes are regularly reviewed with feedback sought from stakeholders (for example, forms include a short feedback section with suggestions for improvement). 3b. Regulator provides feedback on the outcome of consultation exercises to those who took part. 3c. Regulator understands the changing needs of business and the community throughout the regulatory cycle. 4. Accountability and transparency 4a. Regulator is transparent about how they administer and enforce regulation (for example, transparent complaints and disputes mechanisms and transparency about the reasons for enforcement decisions).
Statement%20of%20Expectations%20Framework%20for%20Regulators%20August%202017.docx