Draft Royal Charter on press regulation

The draft Royal Charter on the self-regulation of the press was published today.

Key points:

  • To create a body known as the Recognition Panel
  • To remain in place unless two-thirds of MPs and peers decide otherwise
  • To impose "financial sanctions up to 1% of turnover attributable to the publication concerned with a maximum of £1,000,000"
  • To be funded by public money “to commence its operations and thereafter fulfil its purpose for the first three years”
  • To be governed by a board made up of a chair and at least four members