The RegTech Association’s Post

As a (distant!) member of the Institute of Regulation, with a long involvement in development of regulatory practice, which is now embedded in the Ministry for Regulation - Regulatory System Capability (referred to in this paper) I always look forward to seeing the products of the Institute’s work. The insights in this paper apply as well in NZ as they do in the UK. Another must read for everyone involved in developing, implementing or operating in regulatory systems.

The economist Dan Corry has been appointed to carry out an internal review into the regulation and regulators at the Department for Environment, Food & Rural Affairs (Defra). The review will examine whether the inherited regulatory landscape is fit for purpose and develop recommendations to ensure that regulation across the Department is driving economic growth while protecting the environment. The review will explore: *Whether Defra regulators are equipped to drive economic growth, secure private sector investment and protect the environment *The customer and stakeholder experience of regulation, including the impact on those who are regulated. *The efficiency of regulation, in particular whether the current regulatory landscape involves any duplication and/or contradiction, and whether there are opportunities to make improvements. The review is part of wider work to position Defra as a key economic growth department with regulatory reform. #DEFRA #InternalReview #Regulation #Regulators https://lnkd.in/eCUmGZSN

The UK Government today, 16 May, published a white paper on regulation. Secretary of State Kemi Badenoch MP wants the UK to be 'the best regulated economy in the world with a well-functioning landscape of regulators'. This is a great aspiration, and the white paper is welcome. Well-designed, smart regulation can enable innovation and foster improvement, provide stability to businesses and public services, and protect users and consumers. It's particularly good to see the Government’s desire to establish regulation as a profession and to explore improved training in regulatory theory and practice for those working in regulators. The Institute of Regulation will work with the Government and the regulatory community to take this forward. There are issues in the white paper for all UK regulators to discuss and implement, and not just the business regulators listed in the white paper. Five of these issues, including how the 10 principles in the white paper will help achieve world-class regulatory service, and how the proposed Regulatory Council and one-stop shop for regulation should work in practice, are available on the Institute's website for regulators to consider as they continue to improve their own regulatory approach. I look forward to future discussions. https://lnkd.in/eir-Xw45

⬇️ Read the Institute of Regulation’s response to the government’s white paper on regulation here.

Earlier this year in July (back when the sun shined!) my colleagues published an incredibly useful overview of the upcoming EU sustainability-related legislative initiatives set to affect organisations operating in the food sector. 🚜 🚛 🥙 🍽 In case you missed it, here are some points that stood out to me: 1. There is a wave of legislation coming. 14 pieces of legislation have either been published or finalised (ready to become official later this year). At least six more will likely be finalised next year. 2. Every business function will be impacted by the requirements. All of the legislative initiatives will have a medium or high impact on at least one business function. 3. Companies' responses should extend beyond compliance. Given the overarching impact of the legislative initiatives, holistic engagement across strategy, governance, finance, operations and controls will be essential. 4. Companies need to act now to prepare. The new requirements will start to apply from next year, meaning that the period from 2025 to 2027 will be critical for reducing the regulatory challenge. Make sure to give it a full read and get in touch with any questions or comments! https://lnkd.in/eSnRr5rv #GreenDeal #EMEASustainabilityRegulationHub #Sustainability #EU

🇪🇺On Thursday Nov 14th, the European Parliament is scheduled to vote on the European Commission's proposal to delay the EUDR implementation to 30 December 2025. At the same time, motions have been tabled for further postponement and amendments to the regulation's content. At Paulig Group, we firmly support the EUDR and its goals. For years, we have worked towards more environmentally and socially just value chains, particularly in our coffee supply chains. Since the regulation came into force in June 2023, we have increased our focus and pace on addressing traceability on no-deforestation. We hope to see the Commission's proposed 12-month delay approved with no further amendments to the regulation's content.   Changes to the regulation’s content would dilute its impact and, at this point, create unnecessary confusion and disruption on implementation, as well as legal uncertainty. It is crucial that the regulatory environment remains predictable. This is needed to allow businesses to make well-informed, carefully planned investments and to use our resources and expertise effectively to meet regulatory expectations. Picture from my colleague Salla Sulasuo's recent travel to our coffee origins in the Cauca region of Colombia.

📣 #EUDR Regulation: New Updates A month after the EU Council’s approval, the European Parliament has also confirmed a one-year delay for implementing the EUDR regulation, passing the decision with 371 votes in favor, 240 against, and 30 abstentions. Under the revised timeline, large operators and traders will need to comply by December 30, 2025, while micro and small enterprises have until June 30, 2026. Among the approved amendments is the introduction of a “no-risk” category for countries with minimal or no deforestation risk, which will face less stringent requirements compared to the existing “low,” “standard,” and “high” risk categories. Amendments proposing a two-year delay and changes to trader obligations were withdrawn before the vote. The Parliament has also launched interinstitutional negotiations with the Council, which adopted the original text as proposed by the Commission. Once an agreement is reached, the final text will need approval from both institutions and will take effect three days after being published in the EU Official Journal. Read our article with all the updates 👉 https://lnkd.in/dBvbhERq Alessandro Chelli 🔼 Lorenzo Di Berardino 🔼 Lorenza MORANDINI Stefano Robba Mattia Chelli #EUDRComplianceSolution

In his campaign to lead the Conservative Party two decades on and several leaders later, James Cleverly has proposed "one in, two out" approach to regulations. He claims this will free entrepreneurs to create economic growth and jobs. Back in 2011, in the early days of the Cameron Government, a 'principle' for regulation was set out of "one in, one out" (OIOO). Which in 2013, was raised to "one-in, two-out" (OITO), part of a better regulation framework. The first catch is that governments long ago adopted the practice on impact assessments, to ensure that regulations were the best available policy option. Consequently, their removal is likely to have adverse policy effects (e.g., climate change, health, and safety). It makes little sense to conduct an impact assessment of the introduction of regulations, but not of their potential removal. The second catch is that regulations are not quantitatively equal, they may be bigger or smaller, and their "burden" on business or their benefits for citizens may be greater or smaller. An obvious question is why 1:1 or 2:1, not 3:1 or 4:1? There is no obvious explanation, political or economic, for one ratio rather than another. His political rivals may simply match his 2 and raise him one or two, calling for three, four or, even all regulations to be scrapped. While his proposal may reduce the number of regulations, it may not reduce the "burden" on business and it is highly unlikely to improve the achievement of public policy goals. It may sound good, but it is not clever policy making. https://lnkd.in/esQdDv4J

How can the UK get the best from regulation to grow the economy and benefit society? Some suggestions are in a new research report from the Institute of Regulation. In particular, regulators need to be agile in response to change, and government can help provide consistency and keep regulatory frameworks up to date. This report highlights where good regulation is already in place, and how it can improve. Worth a read.

🌟 Breaking news! 🌍🎉 We are pleased to share that the European Union has officially passed the Corporate Sustainability Due Diligence Directive (CSDDD), marking a significant milestone in our journey towards fairer trade practices. Our advocacy for the inclusion of living income and fair purchasing practices to protect cocoa farmers has been successful. Small farmers, who are often vulnerable to the fluctuations of low market prices, will now benefit from increased stability and sustainability in their livelihoods. Addressing poverty and instability is crucial, as these are well-known root causes of modern slavery. The CSDDD mandates that companies work toward a living income for farmers as part of their due diligence obligations. This directive will have a profound impact on cocoa-producing countries, helping farmers sustain their living standards and preventing labor exploitation, child labor, and other forms of modern slavery. E.U. member states have two years to harmonize this directive into national law, after which all provisions will come into force. This is a transformative step for the industry and a major victory for farmers and their communities. Together, we are paving the way for a brighter, fairer future in global trade. Read the full directive text here: https://ow.ly/yRh050RUbuH