Promoting collaboration is one of our six core objectives, sitting at the heart of everything that we do. Through our shared training programme we create an environment for regulatory professionals to learn from each other, share insights, and collectively improve their skills.

We are delighted this year to have already provided a very successful cost of capital training course, and we are on course to deliver a second one in September, supporting the important area of work delivered by our cost of capital network.

If you are interested in finding out more about our shared training offer or the cost of capital network, please get in touch with us via UKRN@caa.co.uk.

The course is organised by Maggie Kwok at the CAA and she says;

“I have contributed to the development of the UKRN shared training initiative, under which UKRN members offer training spaces to each other.  This initiative provides valuable learning and networking opportunities to course attendees in a cost effective way.  As we are a small economic regulation team at the CAA, this arrangement is important for us to offer timely and affordable training to our colleagues.

Since 2019, we have been lucky to have Mr John Earwaker to deliver several high quality cost of capital training courses for us and other UKRN members.  The positive feedback from attendees encourages us to carry on with this work.”

We are delighted that the course is delivered by John Earwaker, Director First Economics, who says this;

“The courses have been an absolute pleasure to run. The participants from the different regulators’ offices are invariably inquisitive, engaged and willing to participate in discussion, making my job as a trainer an easy one. The cost of capital can sometimes come across as an intimidating topic, but I hope the courses have helped promote a better understanding of current regulatory practice in this important area.”

We are confident that our cost of capital course is productive and rewarding, but see below some of the great feedback we have received from our past students;

• “Nicely paced and catered to range of abilities (I came with no prior knowledge). John made (what I had assumed) was an inherently dull topic quite interesting!”
• “I especially enjoyed the ability to add materials to be covered at the end of the course.”
• “Well-structured, and well-paced – provided a very good grounding in techniques and policy around cost of capital setting for people with no or little practical experience in this area.”
• “The course was very useful for getting the basics.  To get the maximum benefit of the course I will continue reading materials that were introduced at the course and related to my day job.”
• “Really helpful.  After the first segment I was a little worried that it may be a little basic (just because I was very familiar with the basic mechanics of CAPM), but John did a great job of covering the basics of the calc before going on to focus on the importance of the issues from the position of a regulator. This really balanced the needs of everyone in the room.”
• “Very well explained, in careful chunks so as not to overwhelm in one go. I will be using my learning immediately in my work.”
• “I thought the course was excellent. I liked the fact that it was interactive keeping us all engaged.”
• “It’s a very technical area but taught in a very accessible way.”
• “I think the course was extremely useful, the quality was quite good and the style of presentation kept me engaged both days.”
• “John was an incredible trainer. Extremely knowledgeable and articulate.”

The post Shared Training appeared first on UKRN: the UK Regulators Network.

UKRN has continued to work closely in collaboration with four of our members – the FCA, Ofcom, Ofwat and Ofgem – as part of our cost of living working group.

As part of Debt Awareness Week 2024, we publish a joint letter setting out the consumer outcomes that the four regulators expect to see firms delivering, in response to identified consumer harms. They have each set out rules, guidance and best practice relevant to delivering these outcomes in an annex at the end of this letter.

This letter follows on from a letter published in June 2023 which set out shared expectations across the four regulators on how firms in their respective sectors should support customers in financial difficulty.

Download Letter Here

For media enquires, please contact UKRN@caa.co.uk

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Published: 14 December 2023

Today we publish our draft UKRN Strategy for the next three years, which will apply from 1 April 2024.

This sets-out our purpose, core objectives and outcomes we are seeking to achieve through collaborating as a community of regulators.

We are asking for general comments on how we can most effectively deliver our objectives and outcomes, and views on how we can best achieve our objectives through working together, and with external partners.

Your feedback will be important in shaping ‘how’ we will deliver our strategy, which we will set-out in our Annual Delivery Plans at the start of each year, from 1 April 2024. We are not at this stage seeking detailed input to our strategy and objectives.

Please send any responses via email to consultation.UKRN@caa.co.uk, with the subject title “Strategy Consultation response”, by 5pm, 31st January 2024.

Supporting document: UKRN Consultation Guidance

The post Public consultation: UKRN Strategy 2024-27 appeared first on UKRN: the UK Regulators Network.

Published: 3rd November 2023

UKRN ‘On Tour’ has been calling on our members and promoting the work of UKRN, our networks, and the role members play in delivering excellence through collaboration.

It has been a busy year for the UKRN team as we look to visit our members, as part of the UKRN ‘On Tour’ engagement programme.

The pandemic had meant the opportunity to visit members was put on hold until the start of 2023. So the objective for the UKRN team was pretty simple; organise where possible, in-person visits to office locations, promoting the breadth of work that the UKRN engages in, on behalf of our members.

More importantly we want to ensure that our extended family of colleagues really understand how important their contributions are, and get to see just how embedded their organisation is within the UKRNs framework of networks and working groups.

It’s fair to say, that with excellent support from our members, we have made very positive in-roads with the programme:

• Starting in January with the SSRO in London
• TPR in Brighton in February
• Tours followed at Ofcom, Ofwat and CAA for a combined visit during March
• In April we visited ICO
• The Regulator of Social Housing in May
• Even storm Ciaran couldn’t stop the tour, we braced the elements and visited the offices of the FCA and PSR in Stratford on 2nd November
• Our final visit of the year is to the FCA Edinburgh office later in November

With new members joining UKRN and tours planned to some of our more established members, it looks like 2024 will be busy too.

Key government sponsor departments remain on the UKRN tour radar, and we will be looking to support these departments where suitable opportunities can be developed.  

If you are keen to book a UKRN ‘On Tour’ event, or find out more, then please contact kevin.smith_ukrn@caa.co.uk

The post UKRN ‘On Tour’ appeared first on UKRN: the UK Regulators Network.

How we work

As a member-led organization, UKRN strives to deliver excellence through collaboration, we:

UKRN achieves this in a series of ways including facilitation of network activity, as well as hosting and facilitating stakeholder events for our members. 

Increasingly UKRN has convened cross-regulator initiatives for our members, often aligned with Government’s priorities.  Examples of this work include our work on Regulators’ Accountability, Open Banking, Cost of Capital and Cost of Living.

Governance

The UKRN operates a three-tier governance structure that is designed to support the delivery of our strategy, principles and processes, ensuring effective decision-making and accountability.  Each group meets at least quarterly and provides the following functions:

• CEOs Network:  this network’s priority is to provide UKRN with strategic leadership and direction.
• Senior Representatives Group (SRG):  the main decision-making network, this group provides senior input and  guidance.
• Principals’ Network:  providing an information flow function, this network previews upcoming topics, prior to SRG and CEO, to ensure appropriate subject matter experts and stakeholder engagement has taken place.

Alongside the above governance structure, the UKRN also seeks guidance and critical challenge from three advisory networks as set out below:

• Expert Panel: comprised of four independent advisors who hold expertise across a broad spectrum.  This group provide feedback and challenge on UKRN activity and outcomes.  They are also advisors to the CEO’s group when required. To learn more about our Expert Panel, click HERE .
• The Chairs Network:  this senior leadership network provides high level strategic advice, acting in the capacity as a critical friend.
• Network Chairs Group: a collective of our network chairpersons, their collaboration ensures cross-network activity is identified and acted on.

The UKRN team

The UKRN has a small team of staff, who all have a strong regulatory careers.  Our current team members are all secondees, or have previously worked for our members:

Attricia Archer
UKRN Director

Attricia has worked in regulation for 29 years, with 25 of those years being with the financial regulator. She worked in various aspects of supervision at the FCA and has considerable experience in the financial sector together with various financial qualifications. 

During her last 6 years at the FCA she worked in strategic policy focusing on consumer vulnerability.

Attricia says “this role has given me a cross sector insight to regulation and strategy in our member regulators, as well as focusing heavily on high level strategic government stakeholders”.

Click here to email Attricia

Barbara Perata-Smith
UKRN Manager

Barbara joined the UKRN in April 2024 having worked in regulation for over 13 years, mainly at the Civil Aviation Authority, where she led projects focused on sustainability, climate change adaptation, environmental information provision and noise policy. She is an experienced strategist and in 2022 led the development of the CAA’s first environmental sustainability strategy.

Skilled in policy development, stakeholder engagement and communications, for the past two years Barbara chaired the UKRN Climate Change Network, working with members to encourage a collaborative and coordinated approach across the sectors on decarbonisation.

Barbara says “I am delighted to be joining the UKRN to lead the Net Zero programme, and look forward to contributing to the broader UKRN portfolio of work and gain a deeper understanding of cross-sector matters of national strategic importance”.

Click here to email Barbara

Careyann Jacques
UKRN Manager

Careyann has worked in the aviation industry for over 15 years with operational roles at both Gatwick Airport and Edinburgh Airport, and more recently at the Civil Aviation Authority.

She has a broad perspective of aviation through her aerodrome experience in airfield, terminal and security operations and at the CAA enabling the delivery, embedding and continuous development of SARG’s (Safety and Airspace Regulation Group) transformation to risk and performance-based regulation, across all aviation capabilities.

Joining the UKRN in January 2021 on secondment until 2025, Careyann drives the Cost of Capital agenda and facilitates the Cyber Security Network as they identify emerging issues. More recently she has adopted the lead for our communications, research, media and public affairs networks.

Click here to email Carey

Charley Grady-Pearce
UKRN Manager

Charley originally joined UKRN from the Pensions Regulator on secondment but has now taken on a permanent role as the UKRN Strategy & Governance Manager.

Over her 10+ years working in regulation Charley has worked across a number of regulatory and stakeholder management roles including in Case Management, Enforcement & Supervision, as well as providing advice and support from within Exec, CEO and Chair’s offices.

Charley is looking forward to continuing working with a range of valuable stakeholders to share best practice and experience across our regulatory community, particularly through the lens of UKRNs strategic objectives and governance functions.  

Click here to email Charley

Kevin Smith
UKRN Manager

Having worked in the financial services sector since 1985 and with13 years at the FSA and FCA under his belt, Kev joined the UKRN in October 2022, following a previous secondment at the UKRN between 2019-2021.

Kev has also worked in the insurance industry and the banking sector for two decades.

In his time at the FCA, Kev was the FCA relationship manager within the Data Division with the Bank of England and PRA, and also worked in the consumer partnerships team, supporting consumers across the UK. His last role was in the policy area working on the Diversity and Inclusion agenda.

Kev supports a number of UKRN networks and projects, stakeholder engagement and new membership activity within UKRN.

Click here to email Kevin

Makedah Simpson
UKRN Manager

Makedah joined the UKRN in January 2024 as the lead on Vulnerability and Data Strategy on secondment from the Civil Aviation Authority where she was working within the Consumer and Markets Group.  

She has broad experience having worked across policy, project and commercial roles within the fields of Economic Regulation, Consumer Protection (in the fields of Energy and Health) and Accessibility. 

Makedah is excited to work with UKRN’s stakeholders and to continue the great work that is already being conducted across the regulatory community.

Click here to email Makedah

Nicole Trinder
UKRN Business Support Manager

Nicole joined UKRN in January 2020, supporting the team to move forward with the current work plan and key project areas, arranging network meetings and associated papers. Nicole also supports the HR Directors and associated working groups, including future ways of working and pay and reward. 

With a background in learning and development, Nicole will also support the shared training network, responsible for developing bespoke learning initiatives across our members.

Click here to email Nicole

Philip O’Donnell
UKRN Manager

Phil joins UKRN in June 2024 from the Payment Systems Regulator (PSR), where he has been working on a variety of projects, including card fees, ATM regulation, account-to-account payments and digital payments.

His background is mostly in central government, where he was a member of the Government Economic Service for over 10 years, working in several departments, including the Department of Energy & Climate Change, Department for Business and the Office of Fair Trading.

Phil also brings with him experience of working in economic consulting, investment banking and the third sector.

Click here to email Phil

The UKRN Expert Panel

The UKRN Expert Panel consists of four independent advisors who hold expertise in different fields. The Expert Panel advises the CEOs groups and also provides feedback and challenge to the project teams. The current Expert Panel members are Cloda Jenkins, Mick McAteer, Helen Undy and Suzanne Rab. Read more about our Expert Panel here.

Our membership model

We operate a three-tier membership structure:

The post About appeared first on UKRN: the UK Regulators Network.

Published 21st September, 2022

The primary focus of the draft guidance is on the common parameters for the cost of equity and the overall framework for choosing a point estimate for the allowed return on equity, due to these areas having the greatest commonality across regulators.

The 9 proposed recommendations in the draft guidance document bring together and consolidate existing methodologies, recognising the importance of both consistency across sectors as well as across time and recognises the benefits brought about by aligning regulatory approaches to investors and customers.

Specifically this consultation is seeking views on the following questions, raised on the draft guidance document;

Question 1)   Do you agree with the proposed recommendations?  

Question 2)   Do you have views on how this guidance could evolve over time, including views on potential issues for further investigation?  

We see consultation as an opportunity to seek views and participation on matters that affect the industry, the public and other interested parties.  We welcome views on the draft guidance document and the two presented questions by email; consultation.ukrn@caa.co.uk .  

Supporting Document: UKRN Consultation Process

Supporting Document: UKRN Consultation FAQ

UKRN guidance for regulators on the methodology for setting the cost of capital – consultation download below:

The post UKRN guidance for regulators on the methodology for setting the cost of capital – consultation appeared first on UKRN: the UK Regulators Network.

The UKRN publishes Performance Scorecards II

UKRN, with the FCA, Ofcom, Ofgem, Ofwat and CCW, have continued to work together to further develop a set of performance scorecards to measure the customer experience across key sectors. Today’s publication, Moving Forward Together – Scorecards II, brings together these scorecards from all four sectors. Each regulator has once again also published their template, plus links to more detailed analysis, on their websites.

Understanding the experience of consumers across our sectors, especially during this most challenging of years, remains an important aspect of improving consumer outcomes.

Rachel Fletcher, CEO of UKRN, said:

“I am very pleased at the way in which our members have continued to work together, building on their extensive sectoral knowledge to create this shared insight. To be able to share this cross sector information, in one place, for the second year, is testimony to the regulators efforts in recognising the important role they can play. I hope this project is helpful to consumer groups and other interested parties in recognising where consumer needs can be best served.”

Ensuring regulators work together to measure and improve the consumer experience across our sectors also remains a priority for government.

Consumer Minister, Paul Scully said:

I am very grateful to the UK Regulators Network and the regulators for compiling this second edition of performance scorecards.

 Using performance scorecards, consumers can find out which providers are likely to give them the services they need. This enables companies to compete on aspects of service that really matter to their customers.

 I will continue to work with the UK Regulators Network to support them in this work, and I will encourage the further development of making this information available to consumers. I look forward to this and future editions being a valuable aid to consumer decision-making, and to driving healthy competition.

For more information on the scorecards work please contact the UKRN team on kevin.smith_ukrn@caa.co.uk

Published: 14th January 2021

The post Performance Scorecards II appeared first on UKRN: the UK Regulators Network.

UKRN has published research on consumers’ attitudes towards the identification, collection and sharing of data relating to their vulnerabilities. The key findings of the research, undertaken by Revealing Reality, indicate that:

• The needs of those who would benefit most from the sharing of data are being overlooked – that there was a clear relationship between the severity of vulnerability and openness to disclosing and sharing this data.
• Firms and consumers overestimate the risks, and underestimate the benefits, of data sharing – where the fear of sharing data is often based on misconceptions stemming from a lack of clarity.

The report also highlights the perceived barriers and outlines potential next steps that could enable more sharing of vulnerability data in a way that improves outcomes for consumers.

Attricia Archer, UKRN Director says:

“This research shows there is an opportunity for us all to work together to find ways to share data, in a way that works for people and is safe, to help make sure those that need support can get it. This is an area where we can all make a real difference for consumers.”

Alongside the publication of this research, UKRN is holding an event today – bringing together regulators, businesses, consumer groups and other interested parties – to initiate discussion on how to make the most of this opportunity.

A short 5 page executive summary of the report is available here. Please see the download link below for the full report.

If you would like to get in touch with us about this work, please contact: Kathryn.Hardy_UKRN@caa.co.uk

Published: 18th November 2020

The post How can we help you? UKRN and Revealing Reality publish vulnerability research appeared first on UKRN: the UK Regulators Network.

UKRN has published research on consumers’ attitudes towards the identification, collection and sharing of data relating to their vulnerabilities. This is an executive summary of the key findings.

If you would like to get in touch with us about this work, please contact: Kathryn.Hardy_UKRN@caa.co.uk

Published: 18th November 2020

The post How can we help you? Executive Summary appeared first on UKRN: the UK Regulators Network.

Published: 12th November 2020

UKRN is looking for new members for our Expert Panel, who will bring cross-sector perspectives and challenge to our work. This is an exciting non-executive opportunity for approx. 5 days per year. More details can be found in the link below.

To apply please email your CV and covering letter to UKRN@caa.co.uk by close of business on 31^st December. We would like to take this opportunity to thank our current Panel members for their commitment and constructive challenge over their terms.

Expert Panel member role description

The post Expert Panel appointment opportunity appeared first on UKRN: the UK Regulators Network.