Pob stage 1 seminar 7 sbd

1. Seminar: Understanding the role of
regulation for your business
Topic Number: 7
Principles of Business

2. 2
Overview
Regulation is becoming an increasingly important consideration
within the business environment. In this seminar, we will
consider the role and impact regulation has on your business.
You will determine the key regulatory bodies that may be
interested in your business and understand the key principles
that they adopt. This will enable you to develop a robust
understanding of the types of things you should consider within
your business and governance structure. We will look into a
number of the regulatory consequences of not following the
stipulated requirements on your business.
Finally we will look the development of health and safety policy
for your business.

3. 3
Learning outcomes of this seminar
• Determine and describe the different types of regulatory
bodies that may be interested in your business
• Understand and articulate the key regulatory principles of
those bodies and be able to apply these to a particular
context
• Demonstrate knowledge of the consequences of not
adhering to regulatory requirements
• Determine and apply the key principles of different
international regulations in the context of your own
business

4. Agenda for this seminar
Understand the key regulatory principles of those bodies and describe
how you would intend on adhering to the regulations
Consider what are the regulatory consequences for your business of
not meeting the stipulated regulatory requirements
Write a Health and Safety Policy for your business
Determine the key industry regulatory bodies that may be interested
in your business

5. Structure for the session
You will have
15 minutes to
discuss each
question
We will have a
de-brief at the
end of each 15
minutes to hear
your thoughts
on each area
Feel free to ask
questions but
please do not
have separate
conversations
‘we are all in
this together’!

6. A relationship between regulation and trust?
View video: https://www.youtube.com/watch?v=4mh0E6JA2aA#t=164

7. Overview
Source: Edelman, 2014

8. Overview
Source: Edelman, 2014

9. Overview
Source: Edelman, 2014

10. Determine the key
industry regulatory
bodies that may be
interested in your
business

11. Understanding what regulations to adhere to
EU & National Laws
Industry Agnostic
e.g. taxation & health
and safety
Industry Specific
e.g. FCA and Food
Standards Agency
Your core
industry/s
ervices
Ancillary
Services
Supporting
Activities
Consider:

12. For example
Your core
industry/s
ervices
Ancillary
Services
Supporting
Activities
If you offered a package bank account you would need to consider the following
regulators:
Financial
product
elements e.g.
current account
Offer 241 on
dinners at top
restaurants
Offer 241 on
dinners at top
restaurants

13. Role of Regulations
Advertising Product
Consumer
Protection
+ =
Our mission is to
ensure that advertising
in all media is legal,
decent, honest and
truthful, to the benefit
of consumers, business
and society.
We work with local
authorities to enforce
food safety regulations
and…check that the
requirements of the
regulations are being
met.
We are responsible for
considering the
fairness of terms in
many types of financial
services contracts,
including: consumer
credit, mortgages (etc)

14. Understand the key
regulatory principles of
those bodies and
describe how you would
intend on adhering to
the regulations

15. Usually all regulators have a common goal…
• Protecting stakeholders
• Fostering competition
• Encouraging innovation and economic
development
• Stabilizing and stimulating the economy

16. To the letter vs Outcome based regulation
In light of the issues faced through the credit crunch and recession from
2008, we are seeing a new regulatory philosophy with a move from ‘to the
letter’ regulation to an outcome based approach.

17. FCA Principles

18. Determine the role of the
ICO and its impact on
your business

19. The Information Commissioner’s office (ICO) is the UK’s
independent public authority set up to uphold information
rights. We do this by promoting good practice, ruling on
complaints, providing information to individuals and
organisations and taking appropriate action when the law
is broken.
Role of the ICO
The ICO enforces and oversees the
following legislation:
• Data Protection Act 1998
• Freedom of Information Act
2000
• Privacy and Electronic
Communications Regulations
2003
• Environmental Information
Regulations 2004
• INSPIRE Regulations 2009
What action can they take?
• Criminal prosecution
• Non-criminal enforcement
• Audit.
• The Information Commissioner
also has the power to serve a
monetary penalty notice on a
data controller.

20. Your obligations in different industries
Source: ICO, 2014

21. Type of breaches to look out for
Source: ICO, 2014

22. Sectors with most breaches
Source: ICO, 2014

23. Regulatory Powers - ICO
• Serve information notices requiring organisations to provide the
Information Commissioner’s Office with specified information within a
certain time period;
• Issue undertakings committing an organisation to a particular course of
action in order to improve its compliance;
• Serve enforcement notices and ‘stop now’ orders where there has been
a breach, requiring organisations to take (or refrain from taking)
specified steps in order to ensure they comply with the law;
• Conduct consensual assessments (audits) to check organisations are
complying;
• Serve assessment notices to conduct compulsory audits to assess
whether organisations processing of personal data follows good
practice (data protection only);
• Issue monetary penalty notices, requiring organisations to pay up to
£500,000 for serious breaches of the Data Protection Act occurring on
or after 6 April 2010, or serious breaches of the Privacy and Electronic
Communications Regulations occurring on or after 26 May 2011;
• Prosecute those who commit criminal offences under the Act; and
• Report to Parliament on data protection issues of concern.

24. Write a Health and
Safety Policy for your
business

25. Purpose of the HSE
Under the Health and Safety at Work etc. Act 1974 (as amended)
(HSWA) HSE has been set up in order to support the Government’s
strategic aims and current targets for health and safety at work. Its
main aim is to secure the health, safety and welfare of people at work
and protect others from risks to health and safety from work activity.
Its main statutory duties are to:
• Propose and set necessary standards for health and safety
performance;
• • secure compliance with those standards;
• • carry out research and publish the results and provide an
information and advisory
• service;
• • provide a Minister of the Crown on request with information and
expert advice.
HSE’s mission is:
The prevention of death, injury and ill health to those at work
and those affected by work activities.

26. Write a health and safety policy for your business
http://www.hse.gov.uk/simple-health-safety/write.htm

27. 3 easy steps to writing a policy
Step 2: Research risks
documents
Step 1: Download the template
Step 3: Gather holistic view
from your group
http://www.hse.gov.uk/simple-health-safety/write.htm

28. End of Seminar
Note: This recording is for your
personal use only and not for further
distribution or wider review.
© Pearson College 2013