Forward Plans

We are providing the option to each Approved Regulator of submitting an annual forward plan detailing the changes to the Regulatory Arrangements that it anticipates wanting to make throughout that year. We will then review the plan and decide which changes we will want to scrutinise in detail. This decision will be based on an evaluation of significance, impact and risk. We will then direct all other proposed amendments within the plan to be exempt from the requirement for LSB approval.

A framework for considering Significance, Impact and Risk can be found here.

All forward plans will be published here to ensure full transparency and provide notice to interested parties such as prospective consultees.

Where an Approved Regulator fails to agree an acceptable plan with us, all alterations to the Regulatory Arrangements, with the exception of those within the agreed de minimis requirements or any other changes that have been exempted by direction from the LSB, will need to be submitted for approval. Similarly, changes to the Regulatory Arrangements requiring approval before the forward plans have been agreed will need to be submitted to us for approval