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Protecting consumers by improving professional standards.
Regulatory Trends

This title describes seven national and international regulatory trends that are driving the wider changes to regulatory structures already outlined in the Regulatory Structures title.

Overview

Author(s): Justine Rogers and Dimity Kingsford Smith

This title should be read in tandem with the Regulatory Structures title, which outlined the four main types of regulatory approaches to regulating professions: self-regulation, government regulation, co-regulation and meta-regulation. The development from self-regulation through to meta-regulation represents the overarching regulatory trend. Rather than a linear progression, however, the image of sedimentation is more accurate since it captures the fact that different ways of regulating have been deposited onto existing ones. Regulatory structures build on each other as composites. This title looks at certain elements of this process. The regulatory trends in focus are:

  • Competition and Consumer Protection Agenda;
  • Challenges to Traditional Associational Control;
  • Extension of Regulatory Enforcement;
  • Attention towards Large Professional Service Firms and their Seniors;
  • New Problems, New Regulatory Targets;
  • National and International Uniformity and Co-operation; and
  • Regulatory Accountability.