Regulatory Modernization Initiative
The Agency is seeking to update the regulations it administers and various guidance material and tools to ensure that they keep pace with changes in business models, user expectations and best practices in the regulatory field. Over the coming months, the Agency will be consulting on how to advance these key goals:
- Ensuring that industry’s obligations are clear, predictable, and relevant to a range of existing and emerging business practices.
- Ensuring that the demands associated with compliance are only as high as necessary to achieve the regulations’ purposes.
- Facilitating the efficient and effective identification and correction of instances of non-compliance.
The Agency plans to complete consultations and draft modernized regulations, with the goal of implementation of the regulations in 2018 or 2019.