The OECD launched a public consultation on draft Best Practice Principles for the Governance of Regulators.
The 2012 Recommendation of the Council on Regulatory Policy and Governance recognises that an effective regulatory policy includes “a consistent policy covering the role of functions of regulatory agencies in order to provide greater confidence that regulatory decisions are made on an objective, impartial and consistent basis, without conflict of interest, bias or improper influence.” This Best Practice principle for the Governance of Regulators is intended to assist countries to develop such a policy in practice.
The purpose of this consultation document was to present the key principles and issues for countries to consider when developing governance structures for regulators. This is dependant on specific country contexts which determine the potential application of the principles. The principles address the different facets of a regulator and proposes the best or good practices. Each of the principles represent a recommendation on one of the main issues for the governance of regulators and is accompanied by an explanatory text.
The principles have an informal status of a guidance approved at the Committee level – it will therefore not have the formal status of a soft law adopted by the OECD Council and will not be binding for OECD countries. It will serve as a complement to the 2012 Recommendation of the Council on Regulatory Policy and Governance. It can be used by member and non-member countries to guide their reforms. It will also be used by the Secretariat when reviewing regulatory policies in member and non-member countries as a set of criteria for evaluation.
Download the Best Practice Principles for the Governance of Regulators.
The consultation period is now closed. For further information, please contact Faisal Naru at email@example.com.
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