To help ensure that the regulatory process is open and transparent, Regulatory Impact Statements (RISs) prepared to support the consideration of regulatory proposals are published at the time the relevant bill is introduced to Parliament or the regulation is gazetted, or at the time of Ministerial release.
The RISs are published on the responsible department's website, and here on the Treasury website.
A RIS provides a high-level summary of the problem being addressed, the options and their associated costs and benefits, the consultation undertaken, and the proposed arrangements for implementation and review.
Feb. 25 (Bloomberg) -- It was 2004 and Tim Geithner, president of the Federal Reserve Bank of New York, had a message for the Federal Open Market Committee in Washington. He told his 18 colleagues gathered around the long mahogany table that a clearinghouse was needed to monitor risks in the burgeoning $5 trillion market for credit-default swaps -- the over-the-counter derivatives that would later spin out of control and help take down Wall Street.