Link] is the UK's communications regulator; this encompasses all TV, radio, video-on-demand, fixed-line telecoms, mobile phones, postal services and "the airwaves over which wireless devices operate". Not pigeons though, or flags or smoke.
As of TODAY, i.e. effective from 3 April 2017, Ofcom becomes the BBC's first external regulator. Ofcom is developing an 'Operating Framework' covering regulation of the "BBC's performance, compliance with content standards and impact on competition."
The images HERE are a few years old but show just why the BBC must be held to account. "The BBC has a monopoly and it's abusing it". Still today BBC accounts for over 40% of all of the UK's TV and radio; when only news is considered over 50% get their main news from a BBC news outlets (TV, radio and online), this makes their honesty of paramount importance and yet the BBC's Royal Charter [PDF copy] is broken many times a day, every day.
I really truly hope that Ofcom will do the job it is announcing it will do and not just pay lip service to it. The BBC is - and has been for decades - blatantly biased, uses underhand reporting and broadcasting techniques, lies, obscures, omits and ignores many things. The extent is so bad sometimes as to be comparable - or worse - to what some people throughout history have been executed for (the various individuals known as Lord Haw Haw for instance).
Many want to close the BBC completely, I think that is wrong and almost impossible BUT a complete overhaul of all news broadcast and political content - plus the attitude and activity of staff - needs addressing. To say the BBC is a hotbed of sinister rabble rousing lefty twats is an exaggeration...but not a wild one.