The statement responds to the regulatory objectives, set out in chapter 1 of the Act and intended to guide the approach of all regulatory authorities, including the SLCC.

Commenting on the consultation, director of public policy, Vicky Crichton, said: “The new Act introduces significant changes to the SLCC’s powers and functions, so it’s important and timely that we take the opportunity to stand back and look holistically at what Parliament has asked us to deliver.

“The regulatory objectives help us to do that, guiding our approach and supporting us to play our part in meeting the aims Parliament has set out for the regulatory and complaints system.

“While the objectives apply to all regulatory authorities, each body will need to consider how it interprets them with reference to their own powers and functions.

“This draft regulatory statement outlines our understanding of the regulatory objectives and our initial thinking on how we will apply these to our work as we begin to implement the changes delivered by the 2025 Act.

“This consultation provides an opportunity to engage with stakeholders to inform our approach and to help identify any new issues or likely areas of concern. While we plan to publish a final version of the statement following consultation, it will remain under review and further updates may be made as we learn from the implementation of the Act and from the work of other parts of the regulatory system.”