Transparency of Process: knowing how the regulator does its job
Openness of Information: knowing what is happening / has happened to a specific practitioner.
RECA uses “transparency,” broadly, to refer to both openness and transparency; and RECA maintains an equal commitment to both. RECA’s transparency policies enable stakeholders to know how we do our job as the regulator, and we have transparency policies that support the open sharing of information about what has happened to specific licensees.
In all transparency initiatives, RECA remains committed to achieving the right balance between privacy of the individuals and firms it regulates, and society’s desire for greater openness and transparency.
RECA’s philosophy of regulation, policies, practices, and communications reflect the concept of transparency. RECA’s Statement on Self-Regulation, which Council, as it existed prior to December 1, 2020, approved in April 2012, includes a focus on the public interest as one of its guiding principles. It reads, in part:
“It will be an independent body that is fair, transparent and accountable.”
Stakeholders can also find RECA’s commitment to provide “transparent and quality information” in the Statement on Self-Regulation, which reads:
RECA will be transparent by providing information and operational updates to its stakeholders. Its communications will be timely, relevant and aligned with the interests of its licensees and the public. Transparency and access to information will be balanced with the principles of fairness and the right to privacy of licensees.
Transparency supports accountability. The sharing of information allows the Government of Alberta, the public (consumers), and licensees to determine if RECA is, in fact, an independent and accountable regulatory body fulfilling its mandate in a manner intended by the legislation.