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26 April 2013

International regulatory cooperation comes of age

24 April 2013: the OECD has published a well-researched and thought-out stocktaking exercise on International Regulatory Cooperation: Addressing Global Challenges which provides an overview of recent trends, the range of existing regulatory cooperation mechanisms (and actors involved) and preliminary lessons taken from selected experiences. Probably the first such ambitious compendium in the field, it builds on 10 case studies covering a vast range of sectors and experiences (which will be published separately), a review of the literature and other sources. There is also a useful bibliography and a glossary at the end of the volume.
For an overview of the project, go to OECD Regulatory Policy pages on IRC.
The report shows the fascinating multiplicity of IRC arrangements and the important benefits that can accrue from greater regulatory cooperation but also, as it acknowledges, "the remaining analytical gaps and the complexity of implementing effective IRC." As one of the principles enshrined in the 2012 Recommendation (n°12) the development of IRC will be actively pursued in coming months and years, starting with the next OECD regulatory event: the 5th expert workshop on Assessing the Implementation of the 2012 Recommendation of the Council on Regulatory Policy and Governance, co-organised by OECD and Sweden in Stockholm, on 3-4 June 2013 (by invitation).

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