Risk is intrinsic to most facets of everyday life. Whilst economic changes and technological innovations have provided many positive benefits to modern existence, the effects are nonetheless double-edged. Individuals are faced with ambient risks and must take steps in order to ensure self-protection and self-insurance (e.g. becoming more “techno-savvy” and “media literate”). However, members of the public are not alone in protecting themselves and their families from potential risks: for example, recognising that young people may be exposed to inappropriate material, Ofcom is working with key stakeholders to promote media literacy skills across society. Similarly, the FSA is promoting public understanding of the financial system. Consumer education is thus seen as a key part of consumer protection, the aim being to help consumers make informed choices in a complex and risky environment.

Reaching out to the consumer
How do new styles of regulation conceptualise the needs of the public? How are consumers represented within the new culture of regulation? In an ever-changing social climate in which risks are invisible yet omnipresent, the FSA and Ofcom are fostering new ways of protecting consumers. Their responsibilities now go beyond traditional forms of regulation, so as to give individuals the knowledge and skills necessary to become informed consumers, and to promote public education and awareness so as to encourage individuals to make informed choices. They hold consultations and engage with user groups and stakeholders, and embrace research on issues such as social values and cultural diversity. In an unprecedented manner, the new culture of regulation is thus striving to promote and facilitate civic engagement, participation and forums for public debate, and educate and further the interests of the public. Yet little is known about how the regulators balance stakeholder interests and standpoints against the needs of the public or about the crucial interactions among regulators, key stakeholders and the public.