Our regulatory approach, explained

To improve your understanding of our role and how we perform it, we have published a regulatory approach statement.

The statement sets out our high-level regulatory approach. It includes our regulatory purpose and principles, who we regulate and how we regulate.

The statement also explains elements of our regulatory toolkit, including:

• approvals and registration
• support to comply
• risk-based targeting
• referrals, information sharing and partnering
• monitoring compliance
• remedies and sanctions
• accountability for our decisions
• informing mandatory standards
• education.