Insurance Regulation & Accounting
News focus
In the last issue of IR&A , we looked at the main recommendation of the government commissioned report, The Davidson Review, as its impacts the insurance industry. But the report had much to say about the implementation of EU legislation in the UK in general.
A review into how the UK implements EU legislation published at the end of November largely dismissed allegations of wide-scale
gold-plating levied on the government in the past few years. The review was commissioned as part of the government’s better
regulation initiative to cut regulatory red tape in UK industry and in the public sector. Led by Lord Davidson, the review
sought to identify any measures that have unjustifiably gone beyond of the scope of the original EU legislation on their implementation
in the UK and while it collected evidence against 40 directives during a consultation period it concluded that “the unnecessary
over-implementation of European legislation may not be as widespread in the UK as is sometimes claimed”.