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Regulation has become a target for many political voices, red tape restricting innovation and business which should be removed or constrained. Of course, regulations are introduced to achieve many different objectives. The lecture will look at the development of the current maritime safety regulatory regimes, international, national and non-statutory, to set out how innovation has been addressed, how specific concerns have driven change and attempt to quantify the benefits. It will conclude by considering current challenges and setting these against the safety gains of the past. The lecture rests heavily on the experience of the speaker gained during forty years working in heavily regulated industries including thirty years with Lloyd’s Register of Shipping. About the Speaker Vaughan Pomeroy began his engineering career with British Aircraft Corporation at Weybridge. He then worked with Mott, Hay and Anderson, on the design and construction of infrastructure projects including tunnels, water supply and irrigation schemes, power generation and distribution and building services. Vaughan then spent over thirty years until June 2010 with Lloyd’s Register, ultimately as the Marine Technical Director responsible for the technical policy of the marine business of that classification society. He is an engineering graduate of the University of Cambridge, a Fellow of the Royal Institution of Naval Architects, a Fellow of the Institution of Mechanical Engineers and a Fellow and Honorary Vice President of the Institute of Marine Engineering, Science and Technology and a Chartered Engineer.