Select Committee on European Union Written Evidence


APPENDIX 1

EXTRACT FROM MODELS OF SELF-REGULATION, NCC OCTOBER 1999

6.  THE CREDIBLE SELF-REGULATORY SCHEME: A CHECKLIST

1.  The scheme must be able to command public confidence.

  2.  There must be strong external consultation and involvement with all relevant stakeholders in the design and operation of the scheme.

  3.  As far as practicable, the operation and control of the scheme should be separate from the institutions of the industry.

  4.  Consumer, public interest and other independent representatives must be fully represented (if possible, up to 75 per cent or more) on the governing bodies of self-regulatory schemes.

  5.  The scheme must be based on clear and intelligible statements of principle and measurable standards—usually in a Code—which address real consumer concerns. The objectives must be rooted in the reasons for intervention (outlined in chapter 1).

  6.  The rules should identify the intended outcomes.

  7.  There must be clear, accessible and well-publicised complaints procedures where breach of the code is alleged.

  8.  There must be adequate, meaningful and commercially significant sanctions for non-observance.

  9.  Compliance must be monitored (for example through complaints, research and compliance letters from chief executives).

  10.  Performance indicators must be developed, implemented and published to measure the scheme's effectiveness.

  11.  There must be a degree of public accountability, such as an Annual Report.

  12.  The scheme must be well publicised, with maximum education and information directed at consumers and traders.

  13.  The scheme must have adequate resources and be funded in such a way that the objectives are not compromised.

  14.  Independence is vital in any redress scheme which includes the resolution of disputes between traders and consumers.

  15.  The scheme must be regularly reviewed and updated in the light of changing circumstances and expectations.


 
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