CP170 – Regulatory Impact Assessments, and the Central Bank’s Approach to Consultation

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Overview

Description

The Central Bank has published a Consultation Paper to seek stakeholders’ views on its proposed approach to Regulatory Impact Assessments (RIA), and its approach to Consultation.

We would like to you hear your views on:

• A draft Statement of Approach to RIA: This sets out how the Central Bank proposes to assess regulatory interventions, including identifying problems, considering options and evaluating potential impacts.

• Approach to Public Consultation: This reflects current practices and emerging thinking on how consultation can most effectively support policy development. Feedback on this section will inform an update of our consultation policy to be published in due course.

This Consultation Paper does not introduce new regulatory requirements or amend existing rules. It is focused on the processes and frameworks that support regulatory policy development and communication.

This work forms part of the Central Bank’s broader regulatory approach, including its commitment to being Open and Engaged, and to continuously enhancing the effectiveness, clarity and transparency of the regulatory framework. It supports the delivery of the Central Bank’s safeguarding outcomes: the protection of consumer and investor interests; the safety and soundness of firms and the wider system; the integrity of the financial system; and financial stability.

Who would we like to hear from?

In conducting this consultation process, the Central Bank is interested in hearing from stakeholders across the financial system – industry, civil society, consumers and the public more broadly, as well as policymakers and peers.

This submission is now closed. 

Next Steps

We will consider all submissions received and will publish a feedback statement in due course.

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Consultation Paper Document

CP 170 - Consultation on Regulatory Impact Assessments, and the Central Bank’s Approach to Consultation | pdf 538 KB