Search results

Presents the results of a postal questionnaire to UK food and drink manufacturers on the costs of compliance with food regulation. In particular, the questionnaire focused on the usefulness of compliance cost assessments ‐ introduced by the Government in 1985 across all government departments as an analytical tool for assessing the regulatory costs to business ‐ as they relate to food businesses. Explains that the questionnaire sought to establish to what extent food companies actually costed the impact of food regulation on their business operations and explored other aspects of food regulation, such as the benefits and constraints. Reports the results which gave some unexpected insights on the costs of compliance with food regulation. For example, the majority of respondents were not aware that the Ministry of Agriculture Fisheries and Food carried out compliance cost assessments on food regulation; around two‐thirds of the sample found it “difficult” or “very difficult” to identify where compliance costs would affect their company and an even greater proportion (more than three‐quarters) said they would have problems quantifying compliance costs. Concludes that the compliance cost assessment, as a tool for helping to analyse the cost of food regulation on businesses, is an inappropriate method for the food sector and the development of new methods should be considered.

The increasing use of cost‐benefit analysis (CBA) in financial regulation is bringing a sharper focus on the benefits conferred by regulation. This paper addresses the impact of that sharper focus on the compliance culture of regulated firms. Why focus on the benefits of regulation? What does CBA have to offer to the compliance culture of authorised firms? How does the introduction of CBA fit in with other developments in the regulatory arena? This paper offers some tentative answers to these questions.

The purpose of this paper is to determine whether or not early, mid, late career stage truck drivers view the safety regulations differently and how drivers’ regulatory attitudes influence their compliance attitudes and intentions.

This survey study is designed to evaluate the differences in truck drivers’ attitudes toward safety regulations across career stages. Moreover, the study applies ordinary least squares path analysis to determine the influence of drivers’ regulatory attitudes on compliance attitudes and intentions.

Results revealed that drivers in early and late career stages harbor different perceptions of the burden safety regulations place on driving operations, the effectiveness of driver-focused safety regulations in maintaining road safety, and the acceptability of certain unsafe acts. Moreover, drivers’ attitudes toward regulations directly and indirectly influenced compliance attitudes and intentions.

The participant sample was taken from employees of four large motor carriers operating refrigerated and dry box trailers over the road in interstate commerce. While the sample is roughly representative of this segment, the authors recommend caution in generalizing the findings across the diverse US trucking industry as a whole.

Findings suggest that motor carrier management should tailor safety and regulatory familiarization training across career stages. Moreover, carriers should provide targeted communication regarding the effectiveness of regulations and impact of regulations on driving operations in order to alleviate drivers’ negative attitudes toward regulations where possible.

This study marks the first application of career stage theory to the motor carrier safety context. This study also provides further evidence as to the efficacy of drivers’ attitudes toward safety regulations in predicting drivers’ compliance attitudes and intentions. A better understanding of these phenomena may lead to improved compliance and safety.

This paper aims to derive the conditions under which a financial services firm will want to hire a compliance services company and show how much money they should spend.

This paper uses a mathematical model to show the intuition behind many of the compliance decisions that cost financial services firms billions every year.

This paper finds that hiring compliance firms may save banks and brokerages money. However, their advice may lead to an embarrass de riches – whereby the lower compliance costs and higher profit advantages they confer may lead to more regulation. Regulators may furthermore tighten regulation – with the expectation that financial service firms will adapt somehow. This paper presents a fresh perspective on the Menon hypothesis, deriving conditions under which financial regulations help the competitiveness of an international financial centre.

The paper represents one of the first and only models of compliance spending by financial services firms.

This paper provides five potential policy responses for dealing with ever ratcheting financial regulations.

The paper hopefully launches literature on the compliance service industry – and the buy-or-do decision to engage in financial services compliance. This paper finds that efficient compliance can hurt firms, by encouraging regulation. This paper shows how firms can forestall the extra regulation that comes with easier internet and computerised monitoring.

This article aims to explore legal challenges regarding the regulation and supervision of Islamic Fintech and to construct Sharia compliance regulations to strengthen the supervision of Islamic Fintech operation.

This type of research is legal research, adopting the statute approach, comparative approach, and conceptual approach. The focus of the study is Indonesia with comparative studies with Malaysia and the United Kingdom.

Malaysia, Indonesia, and the United Kingdom are all on the top five countries in the Global Islamic Fintech (GIFT) Index. The list comprises countries that are most conducive to the growth of the Islamic Fintech market and ecosystem. However, weak supervision and low Sharia compliance are still becoming prominent challenges in the implementation of Islamic Fintech, while Sharia compliance is the core principle for Islamic finance regulation. Another finding is that a good ecosystem of Islamic Fintechs needs supportive regulations and policies, a Sharia Supervisory Board, and standards of Islamic Fintech Shariah governance.

This study examines the regulation and supervision of Islamic Fintech in Indonesia, Malaysia, and the United Kingdom countries whose Islamic Fintech industry is growing rapidly.

This study is a strong reference for countries with potential Islamic finance, especially when they are constructing the Sharia compliance regulations to strengthen the regulation and supervision of the Islamic finance industries.

Sharia compliance regulations can be a subsystem in the Islamic financial ecosystem to encourage Sharia economic growth in various countries.

To ensure Sharia compliance, it is recommended to take some steps: (a) creating the Sharia compliance regulations; (b) creating the Sharia supervisory boards; and (c) standardizing the Sharia governance of Islamic Fintech.

This article aims to examine academic literature and the taxation regulatory environment in Estonia in relation to small and medium enterprises (SMEs). The objective of the paper is to identify key areas of the taxation regulatory environment which affects SMEs and assess and link important academic literature in relation to those areas with the empirical research. In effect to explore that business reality including Estonia's Soviet historical background and compliance with her EU membership taxation obligations.

This exploratory paper makes use of World Bank Surveys and primary tax law sources, together with qualitative empirical research from an SME manager and a taxation law firm, both from within the country assessed.

It confirms the correlation between economic growth and taxation and identifies the “key” aspects of the taxation regulatory environment for an SME through academic literature reviewed which is linked with the empirical research. This qualitative research provides in‐depth information and fills gaps from previous quantitative research. It emphasises a very positive progression including significant electronic development and compliance with EU directives and regulations has been made by Estonia encouraging SME activity.

This research demonstrates the business reality of the Estonian taxation regulatory environment. Unofficial costs, a legacy from the Soviet period, are virtually non‐existent within the Estonian taxation system. Gaps within World Bank Surveys are filled by the interviews, which give a grass‐roots perspective on taxation regulation affecting an SME.

The research highlights the importance of the taxation regulatory environment and the reality of the regulation and compliance work for SMEs within a relatively new EU member state. Estonia is an important country within Europe's “Northern Dimension” and a former member of the Soviet Union. Consequently, any assessment of its taxation environment can be used as a guideline/model for others from similar backgrounds with similar aspirations.

This paper, set in the context of a rationale for financial regulation, considers how the Financial Services Authority’s (the regulator) approach to establishing compliance competent organisations in the life assurance sector (the regulated) has evolved from a prescriptive approach to one of cooperation with those regulated, in order to establish a working partnership. It focuses on investment business and the resulting importance of conduct of business regulation. It reviews the regulator’s approach, linking academic theory to existing practice and the progress made in the developing and evolving relationship between the regulator and the regulated. It establishes what steps/phases have already taken place within life assurance companies seeking to incorporate and change their compliance culture. It creates a template for the review of progress in seeking to achieve the regulator’s goal of compliant competent organisations, while identifying the essential elements of the new partnership approach. This approach will not only meet the regulator’s stated aim of improving consumer protection but also benefit life assurance companies themselves.

The purpose of the study is to develop and test an integrated compliance model using constructs derived from the legitimacy, deterrence, institutional and stewardship theories. A Cross-sectional survey design was used to collect data from a sample of 97 out of the population of 129 Procuring and Disposing Entities which are regulated by the Public Procurement and Disposal of Assets Authority Act (PPDA). Measurement items were derived from a critical review of literature and found to be both valid and reliable with Cronbach Alpha coefficient of 0.7. The findings reveal that legitimacy and stewardship behavior are significant predictors of compliance to the PPDA Act, Rules and Regulations. We therefore recommend that Procuring and Disposing Entities should continue legitimizing the procurement law through involvement of all stakeholders and promote stewardship behaviors among public employees.

This study aims to identify the problems in shariah compliance and the weak oversight of implementing Islamic crowdfunding (ICF). Shariah compliance regulation is an essential subsystem in Islamic social finance ecosystems.

This type of research is legal research. The research approaches are the statute, comparative and conceptual approaches. The study in this research examines Indonesia, the UK and Malaysia.

ICF is one of the fastest-growing sectors of Islamic financial technology (fintech). The Islamic fintech sector is showing maturity signals with a market size of $79bn in 2021, projected at $179bn in 2026. Malaysia, Saudi Arabia and Indonesia lead the Index by Global Islamic Fintech (GIFT) Index scores. However, low shariah compliance is still an issue in implementing ICF. This problem is caused by regulatory support that is still lacking and oversight of shariah compliance is not optimal. On the one hand, shariah compliance is the ICF core principle for Shariah Governance.

This study examines the regulation and oversight of ICF in Indonesia, Malaysia and the UK. Indonesia and Malaysia, a country with the highest GIFT index score in the world, and the UK, a country with an Islamic finance sector experiencing rapid growth.

The research results on shariah compliance regulation in ICF are helpful as a comprehensive approach for developing sustainable Islamic social finance ecosystems.

Shariah compliance is the core principle of ICF governance. Its implementation can increase public trust.

Crowdfunding platform and issuers in ICF must implement shariah compliance. Therefore, it is essential to consider the presence of shariah compliance requirements and a Shariah Supervisory Board (DPS).