Compliance related assistance The regulator provides Assistance and advice and advice assistance and advice in services cover the full order to secure compliance. range of regulated Effective assistance and advice reduces the risk of noncompliance. activities and is tailored Advice is: easily available Poor or inaccessible advice may where appropriate to (for example, accessible in increase the time spent by different groupings of appropriate formats); regulated parties to understand regulated parties. accurate; easy to regulatory requirements. understand (i.e. written in Regulated parties should be able plain English); to access advice without fear of comprehensive (e.g. include enforcement action. illustrative examples); timely (e.g. provided in time for changes to regulation); and, regularly reviewed and updated in light of feedback. Administration and enforcement is accompanied by ongoing advice. Regulator judges the effectiveness of its assistance and advice by monitoring regulated parties’ awareness and understanding of the services. Regulators provide clarity about the status and objectives of advice (i.e. whether it is statutory or nonstatutory).
Compliance related assistance and advice Effective assistance and advice reduces the risk of noncompliance. Poor or inaccessible advice may increase the time spent by regulated parties to understand regulatory requirements. Regulated parties should be able to access advice without fear of enforcement action. The regulator provides assistance and advice in order to secure compliance. Advice is: easily available (for example, accessible in appropriate formats); accurate; easy to understand (i.e. written in plain English); comprehensive (e.g. include illustrative examples); timely (e.g. provided in time for changes to regulation); and, regularly reviewed and updated in light of feedback. Administration and enforcement is accompanied by ongoing advice. Regulator judges the effectiveness of its assistance and advice by monitoring regulated parties’ awareness and understanding of the services. Regulators provide clarity about the status and objectives of advice (i.e. whether it is statutory or nonstatutory). Assistance and advice services cover the full range of regulated activities and is tailored where appropriate to different groupings of regulated parties.
Stage%20Two%20Regulator%20SOE%20Guidelines.docx