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Sector Regulators - Coggle Diagram

- - - - Control of Substances Hazardous to Health (COSHH) Regulations 2002
        
        Apply to substances that are deemed to be especially hazardous, such as acids, fumes, dusts and vapours, plus more modern developments such as nanotechnology and germs used in labortories
        
        Hazards such as abestos and radiation are dealt with separately
        
        Many organisations are affected by the COSHH regulations
      - Reporting of Injuries, Diseases and Dangerous Occurrence Regulation (RIDDOR) 2013
        
        Applies to all organisations in the UK
        
        Organisations are required to report to the HSE any significant injuries, diseases or dangerous occurrences
        
        Reportable incidents include
        
        Death of any person on an organisations premises
        
        Work related accidents that result in serious injury (such as bone fractures, loss of limbs or serious burns)
        
        Work related accidents that incapacitate a worker for more than 7 days (accidents that cause a worker to be incapacitated between 3-7 days must be recorded in a register, but does not need to be reported to the HSE)
        
        Non-fatal accidents to non workers (such as a customer that require them to be taken immediately (from the organisation's premises) to hospital for treatement
        
        Occuptation related diseases or diseases arising due to contact with a biological agent, for example cancer or deramatisis
        
        Dangerous occurrences such as the collapse of a part of building, a serious fire, equipement coming into contact with electrical cables and so on
        
        Gas related incidents
        
        The premises of many organisations are subject to periodic inspections by trained HSE inspectors. The inspector will review health and safety management practices and examine how they are implemented.
        
        Areas of non-compliance with HSE regulations will be identified and an organisation will be issued with enforcement notices that allow it a set time period to achieve compliance.
        
        The frequency of inspections is usually risk based: the premises of an organisation that iterates in a high risk sector, or one that reports high numbers of RIDDOR incidents will be inspected more frequently
      - The Employers Liability (Compulsory Insurance) Act 1969
        
        Requires most organisations to maintain employers' liability insurance
        
        This helps the employer to pay compensation if an employee is injured or becomes ill because of the work they do
        
        The purpose of this insurance is to ensure that an employee will receive the funds that they are due if they make a successful liability claim against their employer for a health and safety related incident
  - - - Protect employees from work related injury and ill health via enforcing health and safety law, promoting accident prevention and providing information and advice to organisations across all industry sectors
      - Oversee the operation of Irish and EU chemical regulations including the Registration, Evaluation, Authorisation and Restriction of Chemicals Regulation and the Seveso II Directive
      - To protect human health and the environment
      - To conduct market surveillance to ensure that products bought and sold in the Republic of Ireland are compliant with the relevant health and safety regulations
  - - - Kenya: Directorate of Occupational Safety and Health Services
      - Nigeria: National Council for Occupational Safety and Health
      - Ghana: Minstry of Employment and Labour Relations
      - Regulators are typically part of a government ministry and draw their powers from legal statutes, Regulators have the power to implement regulations, inspect premises, investigate major incidents and take enforcement action. In most cases, laws exist to ensure that appropriate compensation is paid to injured workers where necessary
    - - Regulation is usually provided by the government labour ministry such as the Ministry of Labour and Social Security in Jamaica
      - Legal authority comes from specific health and safety acts as well as factory, construction and dock safety acts. Laws make clear the obligations of employers both in terms of health and safety and worker welfare. Government inspectors are often used to inspect premises and take enforcement action where necessary
    - - Ministry of Labour, Industrial Relations and Employment assisted by an Advisory Council for Occupational Safety and Health
      - Employers are expected to implement an appropriate health and safety management system and safe systems of work. They are also expected to provide training and any necessary safety equipment. Regulations exist in relation to product safety. Various guidelines and codes of practice are available.
    - - Ministry of Labour and Social Security of the Russian Federation
      - The regulatory framework is complex and consists of a large number of decrees on specific activities such as construction and manfacturing as well as topics such as smoking in the workplace and workplace hygiene. A social insurance fund is in place to provide compensation to workers in the event of injury
    - - Ministry of Labour/Ministry of Health
      - Health and safety regulation is based on the UAE federal law on labour.
- - - - Management of UK waterways
      - Chemicals
      - Meeting EU and international climate change agreement obligations, including regulating greenhouse gas emissions
      - Promoting energy efficiency
      - Environmental permits
      - Managing and investigating environmental incidents
      - Managing UK fisheries
      - Flooding
      - Industrial waste management
      - Nuclear safety
      - Oil storage and spills
      - Protecting environmentally sensitive sites
      - General wildlife and habitat conservation
  - - - Kenya: National Environment Management Authority
      - Nigeria: National Environmental Standards and Regulations Enforcement Agency
      - Ghana: Ghana Envrionmental Protection Agency
      - Regulators typically report to a government ministry and draw their powers from legal statutes. Regulators have a wide remit covering issues such as land use, the extraction of natural resources, nature conservation and pollution. They are involved in implementing regulatory policy, training and education and enforcement
    - - Somes states have a central environmental regulator, others rely on government ministries and departments
      - Marine biodiversity and pollution are key issues in the Caribbean as is the management of natural resources. Regulators have all the usual range of powers and draw their authority from national laws
    - - Ministry of Social Security, National Solidarity and Environment and Sustainable Development
      - The Department of the Environment within the Ministry has a broad scope and covers issues such as global warming, pollution and sustainable development. The Department monitors and enforces compliance with environmental laws and is also involved in local policy development and education
    - - Ministry of Natural Resources and the Environment of the Russian Federation
      - The Ministry of Natural Resources and the Environment is responsible for the creation and enforcement of policies and regulations dealing with the environment, including conservation, regeneration, forestry and wildlife protection. It is also responsible for the exploration, management and conservation of the country's natural resources, including the management of the water supply, mineral deposit development, and the explorational of the country's territory and continental shelf
    - - Federal Environmental Authority which reports to the Federal Ministry of Climate Change and Environment
      - The Federal Environment Authority was created in 1993 to help co-ordinate environmental regulation and consolidate the diverse array of laws. The Authority is involved in a range of activities including pollution prevention, wildlife protection and the prevention of disease. The Authority also oversees compliance with the international treaties and agreements that the UAE has signed up to
- - - - The PRA was created as part of the Financial Services Act 2012 and regulates around 1,500 banks, building societies, insurers, credit unions and larger investment firms
      - Three statutory objectives
        
        To promote the financial safety and soundness of the firms it regulates
        
        For insurers, securing an appropriate degree of protection for existing and potential future policyholders
        
        Faciliating effective competition
      - The PRA is responsible for drafting regulatory policy and the supervision of the organisations that it regulates. The policy consists of rules and guidance, all of which is contained within the PRA Rulebook.
      - Much of the PRA's regulatory policy is influenced by EU directives. This will continue as long as UK financial institutions operate across the EU. Irrespective of the type of organisation, or whether it is covered by EU directives, much of the policy in the PRA Rulebook is related to the practice of risk management. This policy includes
        
        Financial resources requirements relating to the capital buffers that must be maintained to protect against unexpected losses
        
        The role of auditors and audit committees
        
        Other roles and responsibilities for risk management, including the board, senior managers and the risk management function
        
        The management of specific types of risk, such as market, credit and operational risk
        
        Risk control in general
        
        Risk reporting to external stakeholders
      - The PRA supervises the organisations that it regulates to ensure that they comply with its rulebook. This supervision includes
        
        Demanding detailed financial and risk management reports
        
        The review of risk management policies and other document
        
        Visits to talk with board members, senior managers, risk management and audit professionals
        
        Enforcement action, including fines
    - - The aim of the FCA is to ensure that financial markets operate honestly and fairly so that all stakeholders, especially consumers, get a fair deal. This includes ensuring that stakeholders understand the financial risks that they are taking and their potential negative consequences
      - The FCA is also involved in the prudential regulation of 18,000 smaller financial organisations. These organisations are not considered a threat to the stability of financial markets but their failure could cause their customers to suffer major financial losses
      - The FCA's three main objectives are as follows
        
        Consumer protection
        
        Protecting the integrity of financial markets from misconduct
        
        Promoting competition in financial markets to ensure that consumers get a fair deal
      - The FCA issues regulatory policy and supervises firms to ensure that they comply with this policy. The FCA's regulatory policy and supervisory activities cover many risk-management activities, including:
        
        Roles and responsibilities for risk management, especially in relation to the management of conduct related risks
        
        The management of financial crime risks including money laundering and terrorist financing
        
        The management of other conduct related risk including mis-selling, insider, market maniuplation, protecting client money and unfair contract terms
        
        Compliance management
        
        The purchase of professional indemnity insurance
        
        Whistleblowing
        
        Disclosing the risks associated with financial products and investments
    - - The Financial Ombudsman helps to resolve disputes between financial organisations and their customers, where the Financial Ombudsman decides that a customer has been treated unfairly, it has legal powers to put the situation right
      - The Financial Ombudsman does not directly regulate the risk management activities of financial organisations, but it does issue judgement that can affect their risk management activities.
      - The judgements that the Financial Ombudsman has made in relation to the mis-selling of PPI is one example