As readers of this e-bulletin will be aware, the House of Lord's select committee published its report on the operations of the UK economic regulators in November 2007 and BERR has just published the Government's response. The response document broadly welcomes and accepts the select committee's recommendations. In particular, the response document emphasises the importance of the Regulators' Compliance Code, the Regulatory Enforcement and Sanctions Bill and the work of the Joint Regulators and Concurrency Working Parties to implement those recommendations. These, therefore, look like the most likely areas for further development in this area.