Role Risk Regulation in the the “Risk-based Regulation” (RbR) Conception

Stanisław Kasiewicz

Abstract


The purpose of this paper is to present the role of regulatory risk in the concept of Risk-based Regulation. It has gained a dominant position in the processes of development and implementation of public sector regulation, and it has been a subject of interest in the financial industry. The main method used in the study is a critical analysis of scientific achievements of economists in England. They have created the foundations of this idea and continued its development. The paper underlines one of the weakest elements of this concept - the risk measurement using qualitative methods, in relation to the current achievements of finance theory. There are no rules for selecting experts, nor deeper justification of adequacy of risk measurement presented in line with the definition of regulatory risk. Also, there are no general requirements formulated for the following risk characteristics: reliability, comparability, clearness and others. Despite these reservations related to the risk measurement, this concept is useful for the  national legislative practice and it gives the chance to improve the quality of this process. 


Keywords


management risk regulation; regulation; evaluation

Full Text:

PDF (Język Polski)

References


Baldwin R., Black J., Really Responsive Regulation, “Law Society Economic Working Papers” 2007, No. 15.

Bartle I., Risk-based Regulation and Better Regulation in the UK: Towards what Models of Risk Regulation, 2008, www.regulation.upf.edu/utrecht-08-papers/ibartle.pdf [data dostępu: 12.12.2015].

Black J., Development of Risk and Regulation in Financial Services: Canada, the UK and Australia, A research report. LSE and Political Science, London, September 2004.

Black J., Risk-based Regulation, Presentation to the Future of Legal Regulation Conference, Birkbeck College, London, 14 June 2010 (b).

Black J., Risk-based Regulation: Choices, Practices and Lessons Being Learnt, [w:] OECD (corp. ed.), Risk and Regulatory Policy: Improving the Governance of Risk, OECD, Paris 2010 (a).

Black J., Baldwin R., When Risk-based Regulation Aims Low: a Strategic Framework, “Regulation & Governance” 2012, No. 6.

Bounds G., Challenges to Designing Regulatory Policy Frameworks to Manage Risks, [w:] OECD (corp. ed.), Risk and Regulatory Policy: Improving the Governance of Risk, OECD, Paris 2010.

Description of regulatory approaches to assessing the effectiveness, of regulatory activities at low risk sites and proposed good practice framework: Phase 1 report, SNIFFER April, 2011, s. VII, www.sniffer.org.uk/files/4413/4183/7990/ER13_Phase_1_report_Apr11.pdf [data dostępu: 19.02.2015].

Gier M. de, Kramers R., Doing Right Things for Waste Shipment Inspections (DTRT – TFS), IMPEL, 2012.

Hampton P., Reducing Administrative Burdens: Effective Inspection and Enforcement, HM Treasury, London 2005.

Hutter B., The Attractions of Risk-based Regulation: Accounting for the Emergence of Risk Ideas in Regulation, Discussion Paper No. 33, London School of Economics and Political Science, London 2005.

Peterson D., Fensling S., Risk-based Regulation: Good Practice and Lessons for the Victorian Context, Conference paper presented at the Victorian Competition and Efficiency Commission Regulatory Conference, Melbourne, 1 April 2011.




DOI: http://dx.doi.org/10.17951/h.2015.49.4.195
Date of publication: 2016-01-28 11:03:31
Date of submission: 2015-07-13 16:36:35


Statistics


Total abstract view - 674
Downloads (from 2020-06-17) - PDF (Język Polski) - 0

Indicators



Refbacks

  • There are currently no refbacks.


Copyright (c) 2016 Stanisław Kasiewicz

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.