The Department for Business, Innovation and Skills has published the Regulators’ Code.
The Code was issued under section 22(1) of the Legislative and Regulatory Reform Act 2006, and provides a principles-based framework for the way in which regulators should engage with those they regulate.
Nearly all non-economic regulators, including the Claims Management Regulation Unit, the FCA, the PRA and HMRC (in relation to money laundering), must have regard to it when developing standards, policies or procedures that either guide their regulatory activities with business or apply to other regulators.
The Code replaces the Regulators’ Compliance Code and came into force on 6 April 2014.
Copies of the implementing Statutory Instrument; http://www.legislation.gov.uk/uksi/2014/929/pdfs/uksi_20140929_en.pdf
a webpage; and https://www.gov.uk/government/publications/regulators-code
the associated press release are available. https://www.gov.uk/government/news/the-new-regulators-code-is-now-statutory
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