Press Round-Up: Regulatory and Professional Discipline April 2021 - May 2021

Finance 

Financial Conduct Authority (FCA)

On 06 May 2021 the FCA published details of a speech delivered by its Chief Executive Officer (CEO) in relation to the UK’s Regulatory landscape post-Brexit. Key points made include:

• The FCA will continue to support open, competitive markets with responsible innovation;
• Regulation of overseas firms is aimed at achieving the same high standards of conduct and behaviour as domestic firms, and ensuring a level playing field;
• International regulatory cooperation with other supervisors and global standard-setting bodies is ever more vital;
• There is a need for increased flexibility following Brexit; and
• Other key areas of focus in international regulation include environmental, social and governance (ESG), the sustainability agenda and dealing with financial crime.

The full text of the speech can be found here.

The FCA now plans to publish its 2021-22 business plan in July alongside the Annual Report and Accounts. It is anticipated that the plan will include details of the FCA’s response to the Woolard review.

 

Financial Reporting Council (FRC)

On 07 May 2021 the FRC contributed for the first time, alongside the Bank of England, FCA, PSR, Competition & Markets Authority, the Pensions Regulator, and the IOC, to the Regulatory Initiatives Grid. The Grid sets out the upcoming regulatory activity likely to have a significant operational impact on stakeholders. Upcoming work includes:

• 8 new ESG initiatives;
• The Bank of England and FCA’s work to transform data collection;
• HM Treasury’s Future Regulatory Framework Review and the Pensions Regulator’s plan to introduce a single code of practice to make their expectations simpler and easier to understand.

The latest Regulatory Initiatives Grid can be found here.

 

Healthcare

Care Quality Commission (CQC)

On 20 May 2021 the CQC and the National Institute for Health and Care Excellence (NICE) published an updated Memorandum of Understanding agreement. The memorandum (which can be found here) covers the support NICE provides to the CQC in its role as regulator of health and social care services and the circumstances in which the two bodies will cooperate when carrying out their functions.

 

General Dental Council (GDC)

On 29 April 2021 the GDC published its response to the UK-REACH study into hesitancy in obtaining the COVID-19 vaccine amongst healthcare workers. The GDC has updated its COVID-19 vaccination guidance, encouraging everyone who can be vaccinated to be vaccinated.

The GDC’s guidance can be found here, and the UK-Reach study can be found here.

On 10 May 20210 the GDC (alongside dental educational trainers) issued a joint statement on arrangements for dental education and training during the pandemic. The statement sets out the variations being made for trainees and Registrants.

 

General Medical Council (GMC)

On 11 May 2021 the GMC published a speech given by Charlie Massey, the Chief Executive to the Westminster Health forum on Regulatory reform. Areas of development identified in the speech include:

• A greater use of “accepted outcomes” in cases, reducing the need for full tribunal processes;
• Encouraging a more straightforward route to regulation as demand for medical staff outstrips supply; and
• Encouraging flexibility so that regulation can target resources on areas needing the greatest impact, such as discrimination.

The full text of the speech can be found here.

On 18 May 2021 the GMC set new targets to eliminate disproportionate complaints from employers about ethnic minority doctors. This follows GMC research and analysis, which indicated that doctors from ethnic minorities are twice as likely to be referred to the GMC for fitness to practise issues than white doctors. The referral rate for doctors qualifying outside the UK is three times higher than that of UK doctors. The GMC’s plans to tackle the issue include:

• Developing an amended referral form to include steps organisations have taken to make sure that a referral is appropriate before it is submitted to the GMC; and
• Supporting organisations in building understanding of GMC thresholds for fitness to practise referrals to help ensure fairer outcomes.

The announcement can be found here.

 

Health and Care Professions Council (HCPC)

On 11 May 2021, John Barwick, the Chief Executive of the HCPC addressed the Westminster Health Forum on regulatory reform, calling for a recalibration of healthcare professional regulation. The key elements identified were:

• Greater collaboration between regulators and the rest of the healthcare system, to reduce the siloes that exist;
• Recognition of the benefits of the multi-profession model of regulation and a commitment to build on it; and
• Efficiency improvements in the regulatory landscape, including the sharing of a range of functions among regulators to improve performance, to enhance shared learning and reduce costs.

Further details of the speech can be found here. Details of the Government’s consultation on regulatory healthcare reform can be found here.

 

Legal services

Bar Standards Board (BSB)

On 29 April the BSB issued a press release following the publication by the Bar Tribunals & Adjudication Service (BTAS) of a consultation document proposing revisions to the Sanctions Guidance used by Disciplinary Tribunals in cases of professional misconduct.

Mark Neale, the Director General said:

“I very much hope that all those with an interest in the sanctions which barristers face for professional misconduct will take part in this consultation. 

I am of course aware that there has been recent criticism of the sanctions imposed in cases of sexual misconduct but this review also covers a wider range of professional misconduct. 

It includes proposals to increase the indicative sanctions for some types of misconduct, including misconduct of a sexual nature. It is very important that the final Guidance commands the support of both the public and the profession.”

The sanctions guidance review can be found here.