Inspectorial Power

Inspectorial Power

The ability for a regulator to conduct an investigation, especially of possible violations of the Uniform Securities Act. Inspectorial powers include the ability to take statements, issue subpoenas, request warrants from the relevant authorities, and so forth. Inspectorial powers are critical in the enforcement of market and economic laws.
References in periodicals archive ?
The inspectorates of the three main colonies (Victoria, Queensland and NSW)13 initially adopted a 'gently gently' approach, influenced by limited numbers of inspectors, jurisdictional overlaps with local health departments and councils, lack of information about premises and employment therein, limited inspectorial powers, and employers ill-advised about, or hostile, to the regulations (Goodwin 2003).