The Professional Standards Authority has launched a second, more focussed consultation on its regulatory approach.
The PSA consulted more broadly on changes to its regulatory approach in December 2020.
The PSA said it now wants to “refine this process further” and is consulting on how it is proposing to take its regulator reviews forward, following our earlier conversation and its outcome.
In the revised consultation, it is seeking feedback on three key areas:
- Moving from an annual process to one where it looks in detail periodically, with ongoing monitoring in between to maintain our oversight
- Proposals for setting this period as a three-year cycle
- The factors it will consider when determining whether it needs to look in more depth at a regulator’s performance.