Creating a Culture of Independence
Practical Guidance against Undue Influence
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Regulators are the “referees” of markets that provide essential services to citizens; they guarantee that all actors respect the rules and work to achieve the best outcomes. This means that their behaviour must be objective, impartial, consistent and free from conflict of interest – in other words, independent. Yet, regulators need to engage with a number of stakeholders, who may also seek to apply pressure and exert undue influence on regulatory outcomes. The independence of regulators is thus constantly under stress. This report provides practical advice on how to address stress points and protect economic regulators from undue influence, drawing on the experience of over 80 regulators that participate in the OECD Network of Economic Regulators (NER). It presents a practical checklist to support behavioural and organisational change, and helps other stakeholders better understand and appreciate the role of regulators and how to interact with them.
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Rationale: When and why is independence necessary and why is this guidance needed
This chapter provides an overview of when independence may be necessary and factors to consider in creating an independent and structurally separate regulatory body. It also discusses OECD data on the independence of regulators.
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