Leveson Report – your guide to the regulatory recommendations
Here is a six-point guide to the regulatory system proposed by Lord Justice Leveson: 1) The creation of a genuinely independent regulator Leveson agrees with the view, expressed by Baroness O’Neill and others, that ‘independent regulation’ does not mean ‘self-regulation’. The existing system of self-regulation should be wound up. In its place should emerge a regulator that is both independent of the government, parliament and the industry. It should be ‘established and organised by the industry’ in order to provide ‘effective regulation of its members’. Leveson does not rule out the emergence of multiple regulatory bodies, and indeed allows for it, but he does not advocate such an outcome. 2)
