Why?
A key principle of the Better Regulation approach is the gathering of views on proposed regulatory measures from relevant stakeholders through a public consultation process.
When?
It helps the regulatory authority assess the proportionality of the intended regulatory action with the pursued policy objective. It also helps identify areas of potential inadvertent adverse impact before the regulation is enacted.
How?
This process is usually based on a detailed questionnaire followed by verification and discussion of the aggregate data in a public forum.
A Good Example
The Public Statement of Consultative Practices adopted by CESR (the Committee of European Securities Regulators is a good reference document for public consultations.
Recent Consultations
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