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A review of the UK’s regulatory system in 2005, carried out by Sir Philip Hampton, highlighted the importance of assessing risk before enforcing regulation.
Risk-based assessment helps regulators target “high-risk” businesses that don’t comply with regulations and reduce the administrative burden on those that do.
Hampton recommended that introducing risk assessment would streamline the regulatory system, benefiting businesses and regulators.
Assessing our Regulatory System – The Hampton Review
Supported by the Better Regulation Executive (BRE), the Government is carrying out a range of work to implement the recommendations made by Hampton.
More information on the latest developments can be found in our Regulatory Service e-update newsletter.
The latest edition of the Regulatory Services newsletter has been published.