|
|
FSA Board Paper (FSA 22-12-06), 24 November 2022
FSA Board Paper: Operational Transformation Programme and Future Scope A copy of this paper is available on this site (click on image). Provided under the Open Government Licence. The original webpage was accessed from: |
The paper will be discussed at the Board Meeting on 7 December 2022. The following is the initial summary in the Paper:
1. Introduction
1.1 This paper provides an update on the FSA’s Operational Transformation Programme (OTP), focusing on:
2. Executive Summary
2.1 Part A of this paper outlines the original aspirations of the Operational Transformation Programme and an overview of some of the key achievements of the programme to date.
2.2 Part B summarises the findings of recent stakeholder engagement on the implications of pursuing legislation changes and a new model of regulation that would result in regulatory divergence, including headline views on benefits, risks and dependencies.
2.3 Part C of the paper outlines the organisational structure that will allow more immediate progression of modernisation and continuous improvement activity within the existing regulatory framework whilst aligning future transformation work with our Achieving Business Compliance programme (ABC).
2.4 Part D of the paper presents a range of options for taking forward modernisation work as well as wider, longer term transformation work, and makes a recommendation as to the proposed way forward.
2.5 The FSA Board is asked to:
- Note the original aims of the Operational Transformation Programme and progress made against the agreed workplan for 2022/23.
- Note the outcomes of the Regulatory Divergence Discovery project into
- the implications of introducing regulatory reform domestically through new legislation.
- Agree the recommendation in Part D (option 2), to slow further work on legislative change for delivery of Official Controls (and resulting regulatory divergence) to ensure that it is progressed in a considered way alongside other wider policy and legislative changes, and to note that this activity will be combined into one transformation programme (Achieving Business Compliance) whilst refocusing our efforts in Operations on modernisation within the existing legislation.