Can Business Self-regulate?

Written by Mike Beesley | Blog | Financial Services | Posted 04/06/2013

In recent years there has been a steady increase in the burden of regulation placed on business. Back in 2010, the Government stated in the Coalition Agreement that their objectives in this area would be to:

  • Introduce a “one-in-one-out” rule whereby no new regulation would be introduced without an existing regulation being cut by a greater amount;
    • Refrain from relying solely on rules and regulations to “get things done”;
    • Regularly review the need for each regulation by imposing a set of “sunset clauses” on regulations and regulators.

    Despite their aims to eliminate unnecessary and costly regulation, today it seems that business is more regulated than ever before with many business leaders deeming regulation a significant distraction at best and, at worst, a major inhibitor of growth. Predictably, the Mid-Term Review counters this consensus, stating that the Government has taken successful steps forward by eliminating more than 1,300 regulations. With this in mind, the question must be asked whether businesses will ever be trusted to fully regulate themselves?

    To explore this issue further, Resource Solutions Group (RSG) will be hosting a dinner and lively debate on Thursday, 13 June, as part of our Thought Leadership event series. The evening will see a selection of the UK’s leading Finance experts join together to discuss the issue of business self-regulation led by Nick Hall, Partner at KMPG. The dinner will take place at the world renowned Banares Restaurant, Mayfair, run by twice Michelin starred chef, Atul Koccahr.

    If you are interested in the outcome of the Debate, please subscribe to this blog. If you would like to be kept informed about future events, please email marketing@rsg-plc.com.

    Mike Beesley, CEO, RSG

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