Small Business Practitioner Panel given statutory status
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The Small Business Practitioner Panel has been given statutory status, joining the Consumer Panel and the Practitioner Panel.
In its consultation on regulatory reform, published this week, the Government says panels are an “important consultative mechanism”.
The document states: “In recognition of the important role it has played since its creation, the Small Business Practitioner Panel will also be placed on a statutory footing.”
Panel chairman Phil Gray says: “Around 90 per cent of businesses regulated by the regulator are categorised as small and yet the focus in the recent financial crisis has rightly been on larger firms. We highlighted progress made with the FSA in recognising the cost and burden of regulation on smaller firms. We do not want this to be lost.”
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