The government's recent policy paper New approach to ensure regulators and regulation support growth sets out three strategic actions to make regulation more effective, efficient, and growth-friendly. This agenda presents an opportunity for regulators to enhance their frameworks and make rules easier to find, use and understand.
TSO is committed to supporting the government's vision. Our expertise in regulatory publishing positions us as a valuable partner in this transformative journey.
So how can the way that regulation is published help regulators to achieve the actions set out in the paper?
Action 1: Tackle complexity and the burden of regulation
Regulators will need to balance the goals of economic growth with the protection of public interests, ensuring that regulations are both effective and conducive to growth.
Publishing regulations in ways that makes it easier to find, use and understand makes it easier for new entrants to join markets and for regulated organisations to keep up to date with changes. As techUK highlighted in their new report Evolving Digital Regulation for Growth and Innovation, this is particularly important for the millions of small and medium-sized businesses who may not have the resources to navigate complex regulations.
Regulation is made more flexible by unlocking it from static formats, like PDF, into structured data. It is then easier to deliver policy updates and publish in multiple formats such as websites, apps, e-learning, print and data services. It also enables regulations to be presented in more user-friendly ways, for example through more effective search and timelines of changes.
Regulated organisations often need to consult a range of regulations for their business. If these regulations are unlocked and published in a consistent way, it will be easier to combine and cross-reference regulation and to reduce duplication.
Action 2: Reduce uncertainty across the regulatory system
Efficient publishing processes enable regulators to publish updated regulation faster, improve version control, track changes and communicate updates with clarity and accuracy.
Regulators can provide more user-friendly guidance and tools to help organisations understand how well they are complying with the regulations and identify where they need to improve.
Publishing regulation as code will improve policy making by understanding the impact of change before it is implemented and so avoiding those unintended consequences we so often see.
Action 3: Challenge and shift excessive risk aversion
There will be a greater emphasis on supporting innovative firms, particularly in emerging sectors like technology and clean energy. By adopting innovative processes themselves, regulators can play a crucial role in fostering an environment that supports innovation.
Our Regulator’s Innovation Pathway sets out five steps to state-of-the-art regulation publishing that will support rule drafting, consulting, publishing, consumption and adoption, ultimately streamlining regulation for both regulators and regulated organisations to boost productivity.
Artificial intelligence can help to accelerate that journey, firstly by extracting structured data from regulatory content faster, more accurately and in larger volumes, and secondly by making regulation more consumable to provide a better user experience.
TSO has decades of experience helping regulators publish and manage authoritative information. If you're working to modernise how your organisation delivers regulation, we’re here to help make your content easier to find, use, understand and apply.
Contact us at: tsobd@tso.co.uk
