http://autoinsurancereview.tk/wp-content/uploads/2016/12/CI-FEATURES-Ontario_Flag-238x143.jpg
Ontario launches Red Tape Challenge
Government wants to know which financial services regulations should stay — or go.
Staff on December 2, 2016
Ontario has launches a Red Tape Challenge to cut unnecessary red tape around financial services regulations. It wants businesses to advise on how it can improve regulations to better protect consumers, employees and the environment now until the consultation process ends on Jan. 31, 2017.
The challenge is a part of Ontario’s Business Growth Initiative.
This stage of the consultation is active from December 1, 2016 to January 31, 2017. A preliminary summary of participation will be available February 7, 2017 and a final report will be available July 31, 2017.
The consultation process started with the automotive sector in spring 2016 and food processing this past fall.
“We will review all the comments and ideas submitted and create a plan to improve or reduce existing regulations, while still protecting the public interest,” reads the announcement.
“During this time, we will work with technical experts to analyze the ideas, prioritize the changes that will save businesses the most time and money, and research best practices in other locations. Ministries will then put together action plans to address any issues associated with the acts or regulations they oversee. If there are recommendations in the feedback that could compromise public safety, we will propose alternative ways to address such issues.”
These ministry plans will be presented to the Regulatory Modernization Committee, an advisory body with a role to challenge plans that fail to show significant improvements.
Once the Regulatory Modernization Committee has signed off, all the ministry plans will be combined into a government-wide plan to address red tape identified through one round of the Red Tape Challenge. This process will be repeated for each sector, resulting in six separate, sector-specific plans committing the government to reducing red tape in Ontario.
Ontario launches Red Tape Challenge
No comments:
Post a Comment