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Home Features Regulating for the future: can you prepare for the unknown?
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TAGS Public administration, regulation, Regulatory compliance, Administrative law, Economics of regulation
Rather than reacting, legislation really needs to look forward. But the process is more complex than it first appears. Drafting for future flexibility is key.
Regulation needs to be constantly reviewed and flexible enough to cope with a fast-changing world, argues Maddocks regulatory expert Dariel DeSousa. DeSousa believes agencies too often regulate for the “here and now”, rather than the future.
“We deal with current political and practical problems, but at the same time we should be thinking about the future and trying to ensure that our regulatory frameworks are capable of responding to the bigger issues that may arise down the track,” she said.
With the myriad of potential social, economic and environmental influences, combined with constant change in technology, industry practices, communications and innovations, it is clear there are challenges to setting deregulation frameworks beyond a current, reactionary approach.
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