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UK: Sector regulators unite to streamline service

By  |  March 20, 2014

Various sector watchdogs are set to unite under the UK Regulators Network, say reports, as the authorities look to streamline oversight.

Among the regulators includes the Office of Communications, the Office of Gas and Electricity Markets, and the Financial Conduct Authority. The new Competition and Markets Authority, which is set to begin operations as the UK’s competition authority, was not named as one of the regulators under the UKRN.

Reports say the Network has three main goals: improve consistency of regulatory operations, improve the efficacy of that regulation, and explore the inner workings of those independent sector watchdogs, keeping in mind the economic interests of consumers.

The Office of Rail Regulation chief executive Richard Price will serve as the group’s chair, according to reports.

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