The statement from the Group says: This follows an extensive series of consultations across the industry, involving lawyers and senior editorial representatives covering hundreds of publications.
The final plans – to which the vast majority of publishers have indicated they are committed – are contained in a series of legal documents, totalling over 80 pages, which are being published on a dedicated website, www.ipso.co.uk. They include:
* the contract which will bind publishers to IPSO and give the regulator tough powers of investigation, enforcement and sanction;
* the regulations under which IPSO will operate, investigate complaints and undertake standards investigations;
* the Articles of Association which will set out the governance of the regulator and guarantee its independence;
* the financial sanctions guidance under which IPSO will be able to impose fines of up to £1 million; and
* the Articles of Association of a new Regulatory Funding Company setting out transparently how IPSO will be funded.
The process of asking publishers formally to sign the contracts will now begin through the industry’s trade associations. It is expected to take around eight weeks.
At the same time, an independent appointments process established by a Foundation Group under Lord Phillips of Worth Matravers is expected to begin work shortly.
The two processes of legal implementation and independent appointments procedures should be completed to allow IPSO to begin work early in the new year.
Paul Vickers, Chairman of the Industry Implementation Group and Executive Director of Trinity Mirror plc, said: “Today’s publication is the result of almost nine months of work and consultation across our large and diverse industry. As a result of this painstaking and thorough exercise, we can now move to establish the tough, independent, effective regulator that Lord Justice Leveson called for in his report.
“I am very grateful to many colleagues in the industry – both legal and editorial – who have completed such a mammoth task.
“I am confident that what we have produced will be the toughest regulator anywhere in the developed world – one which will guarantee the public the protection it deserves, but which will also ensure we maintain the free press on which our democracy is founded.”
