Speaking at the Security Industry Authority’s annual Stakeholder Conference, Lord Taylor of Holbeach said that the Government is working to achieve the ‘phased transition to a new regulatory regime’ “by the end of next year, and in line with what the Government understands to be the industry’s aspirations.”
Lord Taylor is responsible for the Security Industry Authority, which was formed in 2003, and laid out the four key objectives of the new regulatory regime:
– greater transparency and accountability
– deregulation so that businesses can focus on their core needs
– lower cost and burden of regulation on the industry
– continued rise in standards to combat criminality
Lord Taylor continued: “The Home Office is in the process of finalising a public consultation on the preferred approach for future regulation of the private security industry. This is currently at the final stage of internal Government approval and should be launched shortly.
“This consultation document has been developed in partnership with industry representatives via a strategic consultation group chaired by the Regulator. Therefore, the regulatory model that it proposes has been designed by the industry, for the industry.
“The consultation is a very important step because it will be the first time the Government formally sets out the details of its proposal, and the first opportunity for many of you to provide your views.”
The minister also praised the work of outgoing SIA chairman Baroness Ruth Henig, whom he described as “inspirational” in her leadership of the SIA through challenging times. Lord Taylor thanked the Baroness for her for her “enthusiasm and commitment to the SIA.”
Lord Taylor also explained how the new regulatory regime is expected to work, saying: “Our intention is to put in place a regulatory regime that’s focused on businesses rather than individuals. Under a business regulation regime the SIA would be responsible for regulating businesses, with those businesses needing to meet a minimum standard before being able to operate in the industry.”
*You can read the full transcript of Lord Taylor's speech to the 2012 SIA Stakeholder Conference here
