regulation

(redirected from Office of Administrative Law)
Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Encyclopedia, Wikipedia.

Regulation

The set of rules and legislation governing certain actions. For example, the U.S. Tax Code and the rules the IRS publishes regulate federal taxation in the United States. In securities, regulations often require companies to disclose their actions to see to it that as much information as possible is publicly available. Other regulations govern business practices; for example they may set minimum or maximum wages and salaries, prohibit discrimination on certain grounds, and/or ban certain policies or practices deemed unfair for consumers or competitors. While nearly everyone agrees that some regulations are necessary, there is significant disagreement as to how many and what kind. Proponents of more regulation state that it ensures a fair market place and sustainable growth, while critics argue that many regulations do more harm than good.

regulation

the control of economic activities by the government or some other regulatory body, for example an industry trade association. Regulation can include PRICE CONTROLS to regulate inflation; FOREIGN EXCHANGE CONTROLS to regulate currency flows; and COMPETITION POLICY to regulate the operation of particular markets. More specific regulation may be imposed upon individual industries or activities, for example price control of denationalized industries (e.g. Oftel, which regulates telecommunication prices and Of gas which regulates gas prices in the UK); and the regulation of financial services by the BANK OF ENGLAND and the FINANCIAL SERVICES AUTHORITY. See DEREGULATION, RATE OF RETURN REGULATION.

regulation

the control of economic activities by the government or some other regulatory body, for example, an industry trade association. Regulation can include PRICE CONTROLS to regulate inflation, FOREIGN EXCHANGE CONTROLS to regulate currency flows, and COMPETITION POLICY to regulate the operation of particular markets. More specific regulation may be imposed upon individual industries or activities, for example, price control of privately owned PUBLIC UTILITIES (for example, Oftel, which regulates telecommunication prices in the UK), and the regulation of financial services by the BANK OF ENGLAND and the FINANCIAL SERVICES AUTHORITY.

There is a danger that regulators appointed to serve the interests of customers will instead serve the interests of the regulated firms (a so-called situation of‘regulatory capture’). This is particularly likely to occur when appointed regulators work with specific managers in regulated firms for a long time and are influenced by the public relations and lobbying activities of firms.

See DEREGULATION.

References in periodicals archive ?
Both the complainant and Bank of America can appeal the monetary damages to the Labor Department's Office of Administrative Law Judges within 30 days of receiving the findings.
Calling it the most radical changes he's seen in his 20 years with the FTB, Executive Officer Gerald Goldberg announced that the FTB's Protest Regulation has been approved and now is working its way through to the Office of Administrative Law.
The emergency action goes into affect as soon as it is reviewed by the Office of Administrative Law and filed with the Secretary of State.
On Monday, April 16, 2007, the California Office of Administrative Law (OAL) issued a 17-page determination that then-Insurance Commissioner John Garamendi acted illegally in attempting to designate a settlement agreement his attorneys had negotiated with American Reliable as a legally enforceable "precedent.
Under a consent decree and order filed with the department's Office of Administrative Law Judges, in addition to making financial restitution, the company has agreed to work with OFCCP to conduct a statistical analysis of the base pay of 415 individuals employed full time as "primary care" and "specialty care" level III pharmaceutical sales specialists in Alabama, Delaware, Indiana, Kentucky, Maryland, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia and the District of Columbia.
DPR must submit proposed regulations to the Office of Administrative Law by the end of 1999.
Leznik currently has an appeal pending before the Office of Administrative Law Judges at the DOL.
The Office of Administrative Law now has 30 business days to approve the modifications.
The commission's staff will now forward legal documents to the Office of Administrative Law, a state agency that reviews such regulations.
The Association filed a Petition with the California Office of Administrative Law (OAL) this week asking that agency to declare that Garamendi acted illegally in attempting to designate a recent settlement with American Reliable as a "precedential decision" of the California Department of Insurance (CDI).

Full browser ?