IPSO, the new Press regulator, begins work today with a commitment to be 'rigorous, independent, fair and transparent'. The Independent Press Standards Organisation, whose chairman is the retired Court of Appeal judge Sir Alan Moses, will oversee editorial standards for the majority of national and regional newspapers and magazines. It has far tougher rules than the previous regulator, the Press Complaints Commission. The watchdog will have the power to impose fines of up to £1million for serious and systemic wrongdoing and can require editors to publish up-front corrections. IPSO will also include a standards and compliance arm, with investigative powers to call editors to account. It will require all newspapers to have their own effective complaints-handling procedures. Sir Alan said: 'IPSO aims to help rebuild public trust in the Press through independent, fair and transparent regulation. Its role as an independent regulator is to provide support and redress for victims of Press abuse.