Regulatory agency

Regulatory agency

A Regulatory agency (also regulatory authority, regulatory body or regulator) is a public authority or government agency responsible for exercising autonomous authority over some area of human activity in a regulatory or supervisory capacity. An independent regulatory agency is a regulatory agency that is independent from other branches or arms of the government.

Functions

Regulatory agencies deal in the area of administrative law—regulation or rulemaking (codifying and enforcing rules and regulations and imposing supervision or oversight for the benefit of the public at large). The existence of independent regulatory agencies is justified by the complexity of certain regulatory and supervisory tasks that require expertise, the need for rapid implementation of public authority in certain sectors, and the drawbacks of political interference. Some independent regulatory agencies perform investigations or audits, and some are authorized to fine the relevant parties and order certain measures.

Examples

Examples of regulatory agencies include the Federal Communications Commission (FCC) in the United States, the Federal Financial Supervisory Authority (BaFin) in Germany, the Australian Securities and Investments Commission (ASIC) in Australia, and the Financial Conduct Authority in the United Kingdom.

See also

• List of regulatory agencies
• Regulation
• Regulatory capture
• Regulatory economics
• Regulatory state

References

<references />

External links

• Regulation Body Examples

This article is a medical stub. You can help WikiMD by expanding it!
Most recent articles Ongoing trials	Wikipedia

   This article is a medical stub. You can help WikiMD by expanding it!