Ethical Business and Regulation: A Behavioural and Ethical Values-Driven Approach to Compliance and Enforcement

This book explains the concept of Ethical Business Regulation (EBR), a new approach that goes beyond compliance and enforcement, and provides the basis for a consistently effective relationship between a business and its regulators, based on evidence of consistent ethical behaviour involving the business and all its stakeholders. EBR is attracting extensive attention from regulators and businesses around the world. The UK Government’s 2017 Regulatory Futures Review draws on EBR as foundation for the policy of ‘regulatory self-assurance’. EBR draws on findings from behavioural science, responsive regulation and business and integrity management to create a holistic approach. Examples of the coordinated approach include the open culture that is essential for civil aviation safety, the Primary Authority agreements between regulators and national businesses, and feedback mechanisms provided by market vigilance systems and sectoral consumer ombudsmen. This book provides an essential blueprint for effective future regulation.